BTC has gained its bullish momentum over the last few hours again, as it's value surpassed the $70k mark after dropping under $64,000 the last week.
The longing movement in the last seven days was higher than average. If long term holders moved for the purpose of selling, it may have a negative impact. Also, selling sentiment in general seemed to have been dominating the market.
MACD and other technical indicators suggest a bullish crossover soon, hinting that BTC is getting ready for a further bull rally. Nonetheless, BTC’s growth momentum might decline as its Money Flow Index (MFI) moved sideways in the last few days.
As of now, at the time of writing this article, BTC is trading around $70,200 and has gained around 12.48% over the past week with a market capitalization of $1.4 Trillion.