Bitcoin is currently facing scrutiny as its price remains high despite low transaction volume, according to a recent analysis. The Network Value to Transactions (NVT) Golden Cross indicates that Bitcoin’s Market cap is inflated, potentially leading to further price declines. Currently, Bitcoin is trading in the low $80,000 range, having dropped 5.5% in the past ...
Recent on-chain data indicates that the Bitcoin Network Value to Transactions (NVT) Golden Cross is signaling a potential bearish trend for Bitcoin’s price. Currently, the NVT Ratio, which compares Bitcoin’s Market cap to its transaction volume, is high, suggesting the cryptocurrency may be overvalued. An analyst noted that the recent sharp rise in the NVT ...
Bitcoin’s price has fallen sharply, dipping below $80,000, marking a 20% decline in just a week. This ongoing slump is raising concerns in the Market, with little indication of recovery. Insights from tugbachain on the CryptoQuant platform reveal important trends in Bitcoin’s Market behavior, particularly the UTXO Realized Price Age Distribution, which shows how different ...
Bitcoin’s price dropped significantly below $80,000 recently, marking a nearly 20% decline over the past week, indicating ongoing Market challenges. Insights from tugbachain on the CryptoQuant QuickTake platform reveal notable shifts in Bitcoin’s UTXO Realized Price Age Distribution. This metric highlights how different investor groups are holding Bitcoin, showing key support levels that have typically ...
Crypto analyst Burak Kesmeci has made an optimistic prediction about Bitcoin, suggesting the cryptocurrency could be on an upward trend. Currently, Bitcoin is trading around $104,000, demonstrating stability after a recent price recovery. Kesmeci highlights the Bitcoin NVT Golden Cross metric, indicating a solid potential for price increases as it approaches a local bottom. Historically, ...
