On-chain data shows the Bitcoin Network Value to Transactions (NVT) Golden Cross still has a high value, a sign that may be bearish for BTC. Bitcoin NVT Golden Cross Is Still Near Historical Top Zone In a CryptoQuant Quicktake post, an analyst discussed the recent trend in the NVT Golden Cross for BTC and its implications for the price. The NVT ratio is an indicator that tells us about how the Bitcoin market cap compares against its transaction volume. The metric is generally used to judge whether the asset’s price is fair or not right now. Related Reading: Bitcoin Hash Ribbons Form Capitulation Signal: What It Means When the indicator’s value is high, it suggests the network’s value (that is, the market cap) is high compared to its ability to transact coins (the volume). Such a trend implies that the asset may be overpriced currently. On the other hand, the low metric means the cryptocurrency’s price may be undervalued due to a rebound as the market cap is low compared to the volu ..
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