Bitcoin Reaches New ATH of $109,400 Amid Stable NVT Golden Cross
The Bitcoin NVT Golden Cross suggests the asset is not yet overheated, despite reaching a new all-time high (ATH).
Key Points
- The NVT Ratio tracks the relationship between Bitcoin’s market cap and transaction volume.
- A high NVT Ratio indicates potential overvaluation, while a low ratio suggests room for growth.
- The NVT Golden Cross uses moving averages of the NVT Ratio to signal market conditions.
- Currently, the NVT Golden Cross value stands at 1.5, indicating it remains below the critical threshold of 2.2 where tops typically occur.
- Bitcoin's price reached $109,400, surpassing its previous ATH of $109,200.
