Bitcoin NVT Golden Cross Indicates Cycle Top Not Reached
The Bitcoin NVT Golden Cross, an indicator comparing short-term and long-term trends of the Network Value to Transactions (NVT) Ratio, suggests that the market is currently neutral. The 30-day EMA of this metric remains around zero, not breaching into zones historically associated with market tops.
- The NVT Ratio compares Bitcoin's market cap to transaction volume. A high value may indicate overvaluation, while a low value suggests potential for growth.
- The NVT Golden Cross examines the 10-day moving average against the 30-day moving average to identify potential market tops or bottoms.
- Current data shows no spike into the "red zone," indicating the market hasn't hit a cycle top yet.
Meanwhile, CryptoQuant’s Bull Score Index, which synthesizes several on-chain metrics, signals a bearish trend, contrasting with the neutral indication from the NVT Golden Cross.
BTC Price
Bitcoin recently surged to $114,000 but quickly retreated to $108,000, suggesting volatility in its price movement.
