{"id":653397,"date":"2024-11-16T15:00:03","date_gmt":"2024-11-16T15:00:03","guid":{"rendered":"https:\/\/ktsl888.com\/?p=653397"},"modified":"2024-11-16T07:42:24","modified_gmt":"2024-11-16T07:42:24","slug":"bitcoin-nvt-golden-cross-signals-local-bottom-whats-next","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-nvt-golden-cross-signals-local-bottom-whats-next\/","title":{"rendered":"Bitcoin NVT Golden Cross Signals &#8216;Local Bottom&#8217; \u2014 What&#8217;s Next?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">According to the latest on-chain data, the Bitcoin Network Value to Transactions (NVT) Golden Cross has fallen into a crucial region. What could this mean for the <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-trader-unrealized-profit-margins-at-high-levels-risk-of-correction\/\" target=\"_blank\" rel=\"noopener \">price of the premier cryptocurrency<\/a>?<\/span><\/p>\n<h2><b>What Does The Falling NVT Golden Cross Mean For Price?<\/b><\/h2>\n<p><span style=\"font-weight: 400\">In a recent Quicktake post on the CryptoQuant platform, an analyst with the pseudonym Burakkesmeci <a href=\"https:\/\/cryptoquant.com\/insights\/quicktake\/6737b3243003544c23b5c01a-At-505-AM-on-November-15-2024-the-NVT-Golden-Cross-metric-triggered-a-local-bott\" target=\"_blank\" rel=\"noopener nofollow\">revealed<\/a> that the price of Bitcoin might have reached a \u201clocal bottom.\u201d This exciting prognosis is based on the latest movement by the \u201cNVT Golden Cross\u201d metric.<\/span><\/p>\n<p><span style=\"font-weight: 400\">For context, the \u201cNetwork Value to Transactions\u201d ratio is an on-chain indicator that estimates the difference between the Bitcoin market capitalization and transaction volume. Typically, a high NVT value signals that an asset\u2019s price is high compared to the network\u2019s transaction volume, suggesting that the coin is overvalued.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/analysis\/bnb\/bnb-price-takeoff-650\/\" target=\"_blank\" rel=\"noopener \">BNB Price Poised for Takeoff: Will It Be The Next to Rally?<\/a><\/div>\n<p><span style=\"font-weight: 400\">Conversely, when the value of the NVT metric is low, it implies that the coin\u2019s market value is small relative to the transaction volume. Usually, this indicates that the asset is undervalued and its price could still have room for upside movement.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Now, the <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-last-big-drop-expert-key-indicator\/\" target=\"_blank\" rel=\"noopener \">Golden Cross indicator<\/a> is a modified iteration of the NVT ratio, and it helps to mark gradual buy and sell zones in short-term trends. According to Burakkesmeci explained that when the NVT GC exceeds 2.2 (the red zone), it means that the price in a short-term trend is overheating (and the formation of a potential local top).<\/span><\/p>\n<p><span style=\"font-weight: 400\">On the other hand, the NVT Golden Cross dipping below -1.6 suggests that the price decline is wearing out, signaling a potential bottom. Burakkesmeci noted that these local tops and bottoms are regions rather than just precise levels.<\/span><\/p>\n<figure style=\"width: 1280px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/img.cryptoquant.com\/192610\/quicktake\/JzJFI_40ea778985681d6dd0d30db7fa72ef261bc8e50b187ef9b70616fbc00dbcfb96.png?resize=1280%2C720&#038;ssl=1\" alt=\"Bitcoin\" width=\"1280\" height=\"720\"><figcaption class=\"wp-caption-text\">Source: CryptoQuant<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">As shown in the chart above, the NVT Golden Cross has crossed beneath -1.6 and is currently around -3.3, suggesting that the Bitcoin <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-nvt-golden-cross-gives-bottom-2-times\/\" target=\"_blank\" rel=\"noopener \">price is at a local bottom<\/a>. According to the CryptoQuant analyst, this could represent a \u201cgradual buying opportunity\u201d for investors looking to get into the market.<\/span><\/p>\n<h2><b>Bitcoin Market In Extreme Greed<\/b><\/h2>\n<p><span style=\"font-weight: 400\">Investors will want to proceed with caution especially as the Bitcoin market seems to be overheating in the long term. According to another CryptoQuant analyst, the Fear &amp; Greed Index has flagged extreme greed for the premier cryptocurrency.<\/span><\/p>\n<figure id=\"attachment_653398\" aria-describedby=\"caption-attachment-653398\" style=\"width: 1136px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-653398 size-full\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/11\/Screen-Shot-2024-11-16-at-02.45.04.png?resize=1136%2C1006\" alt=\"Bitcoin\" width=\"1136\" height=\"1006\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/11\/Screen-Shot-2024-11-16-at-02.45.04.png?w=1136 1136w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/11\/Screen-Shot-2024-11-16-at-02.45.04.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/11\/Screen-Shot-2024-11-16-at-02.45.04.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/11\/Screen-Shot-2024-11-16-at-02.45.04.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/11\/Screen-Shot-2024-11-16-at-02.45.04.png?w=750 750w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-653398\" class=\"wp-caption-text\">Source: Maartunn\/X<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">Typically, when the Fear &amp; Greed Index moves toward one end, there is a potential for market reversal depending on the sentiment. In this case, where the market is <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-extreme-greed-nearly-here-lead-top\/\" target=\"_blank\" rel=\"noopener \">in extreme greed<\/a>, the Bitcoin price may be about to witness a correction.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/analysis\/xrp\/xrp-price-rockets-upward-0-8880\/\" target=\"_blank\" rel=\"noopener \">XRP Price Rockets Upward: Bulls Poised for More Gains<\/a><\/div>\n<p><span style=\"font-weight: 400\">As of this writing, the price of BTC sits just beneath $91,000, reflecting a 3% increase in the past day. According to CoinGecko data, the market leader is up by an impressive 19% in the last seven days.<\/span><\/p>\n<figure style=\"width: 2174px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/spaeYZI4\/\" alt=\"Bitcoin\" width=\"2174\" height=\"1432\"><figcaption class=\"wp-caption-text\">The price of BTC on the daily timeframe | Source: BTCUSDT chart on <a href=\"https:\/\/www.tradingview.com\/x\/fhRc1M4N\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\"><em>Featured image from iStock, chart from TradingView<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"<p>According to the latest on-chain data, the Bitcoin Network Value to Transactions (NVT) Golden Cross has fallen into a crucial region. What could this mean for the price of the premier cryptocurrency? What Does The Falling NVT Golden Cross Mean For Price? In a recent Quicktake post on the CryptoQuant platform, an analyst with the pseudonym Burakkesmeci revealed that the price of Bitcoin might have reached a \u201clocal bottom.\u201d This exciting prognosis is based on the latest movement by the \u201cNVT Golden Cross\u201d metric. For context, the \u201cNetwork Value to Transactions\u201d ratio is an on-chain indicator that estimates the difference between the Bitcoin market capitalization and transaction volume. Typically, a high NVT value signals that an asset\u2019s price is high compared to the network\u2019s transaction volume, suggesting that the coin is overvalued. Related Reading: BNB Price Poised for Takeoff: Will It Be The Next to Rally? Conversely, when the value of the NVT metric is low, it implies that the coin\u2019s market value is small relative to the transaction volume. Usually, this indicates that the asset is undervalued and its price could still have room for upside movement. Now, the Golden Cross indicator is a modified iteration of the NVT ratio, and it helps to mark gradual buy and sell zones in short-term trends. According to Burakkesmeci explained that when the NVT GC exceeds 2.2 (the red zone), it means that the price in a short-term trend is overheating (and the formation of a potential local top). On the other hand, the NVT Golden Cross dipping below -1.6 suggests that the price decline is wearing out, signaling a potential bottom. Burakkesmeci noted that these local tops and bottoms are regions rather than just precise levels. As shown in the chart above, the NVT Golden Cross has crossed beneath -1.6 and is currently around -3.3, suggesting that the Bitcoin price is at a local bottom. According to the CryptoQuant analyst, this could represent a \u201cgradual buying opportunity\u201d for investors looking to get into the market. Bitcoin Market In Extreme Greed Investors will want to proceed with caution especially as the Bitcoin market seems to be overheating in the long term. According to another CryptoQuant analyst, the Fear &amp; Greed Index has flagged extreme greed for the premier cryptocurrency. Typically, when the Fear &amp; Greed Index moves toward one end, there is a potential for market reversal depending on the sentiment. In this case, where the market is in extreme greed, the Bitcoin price may be about to witness a correction. Related Reading: XRP Price Rockets Upward: Bulls Poised for More Gains As of this writing, the price of BTC sits just beneath $91,000, reflecting a 3% increase in the past day. According to CoinGecko data, the market leader is up by an impressive 19% in the last seven days. Featured image from iStock, chart from TradingView<\/p>\n","protected":false},"author":590,"featured_media":605367,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[85117,679,93375,78790,50046],"class_list":["post-653397","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin-fear-and-greed-index","tag-bitcoin-price","tag-bitcoion","tag-btcusdt","tag-nvt-ratio"],"acf":[],"yoast_head":"\n<title>Bitcoin NVT Golden Cross Signals &#039;Local Bottom&#039; \u2014 What&#039;s Next?<\/title>\n<meta name=\"description\" content=\"According to the latest on-chain data, the Bitcoin Network Value to Transactions (NVT) Golden Cross has fallen into a crucial region.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-nvt-golden-cross-signals-local-bottom-whats-next\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin NVT Golden Cross Signals &#039;Local Bottom&#039; 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Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger. When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi\u2019s Spotify Daily Mix. Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K. Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that. Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. 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