Data shows the Bitcoin NVT Golden Cross is still in the “overbought” region, a sign that there may be more volatility to come for the cryptocurrency. Bitcoin NVT Golden Cross Continues To Be At A High Value As pointed out by an analyst in a CryptoQuant post, the BTC long-term holders have been moving their coins recently. The “NVT ratio” is an indicator that measures the ratio between the Bitcoin market cap and the transaction volume on the chain (both in USD). What this metric tells us is whether the value of the cryptocurrency (the market cap) is comparable to the ability to transact coins or not (the volume). When the value of the metric is high, it means BTC is overvalued right now as transaction volumes are low compared to the market cap. On the other hand, low values imply the crypto may be undervalued currently. Related Reading: Quant Explains How This Nasdaq Support Retest Could Also Help Reverse Bitcoin The “NVT Golden Cross” is an indicator that compares the long-term (30-day MA) and the short-te ..
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