NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Price Tumbles Toward $98,000: What’s Driving The Drop And What Lies Ahead
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Price Tumbles Toward $98,000: What’s Driving The Drop And What Lies Ahead

Bitcoin Not Out Of Danger Yet, NVT Golden Cross Warns

Keshav Verma
Keshav Verma
Last Updated: June 11, 2024 8:21 am
2 mins read
Bitcoin

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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

Bitcoin Hash Ribbons Form Capitulation Signal: What It Means

1 year ago

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 volume.

In the context of the current topic, the NVT ratio itself isn’t of interest; rather, it is a modified form called the NVT Golden Cross. This metric compares the short-term trend (the 10-day moving average) with the long-term trend (30-day MA) of the NVT ratio to identify tops and bottoms.

Here is a chart that shows the trend in this Bitcoin indicator over the past couple of years:

Bitcoin NVT Golden Cross
The value of the metric seems to have been relatively high in recent weeks | Source: CryptoQuant

In the graph, the quant has highlighted the two relevant zones for the Bitcoin NVT Golden Cross. It would appear that when this metric is above 2.2, a top can be probable for the cryptocurrency as its price is overvalued in this zone. Similarly, the NVT Golden Cross being under -1.6 can lead to a bottom formation for the asset.

The Bitcoin NVT Golden Cross has ventured into the red territory for the last couple of months. Each time it has seen a decline out of the zone, it has followed up with another rise into the zone. As such, it hasn’t been able to visit the bullish region yet.

At present, the metric has just made another exit out of the top zone, but its value is still quite near it. Thus, while a top may not be especially probable now, a lasting uptrend is also unlikely to happen.

Related Reading

Bitcoin

Bitcoin Price Linked To Binance Vs Coinbase Battle, Quant Reveals

1 year ago

It’s possible that Bitcoin won’t be completely out of danger of observing more price drawdowns until the NVT Golden Cross can see a decrease in the green zone.

It now remains to be seen how the indicator develops in the near future and whether its changes will affect the BTC price.

BTC Price

At the time of writing, Bitcoin is floating around the $64,900 mark, up more than 4% over the past week.

Bitcoin Price Chart
It looks like the price of the asset has enjoyed a surge over the last 24 hours | Source: BTCUSD on TradingView
Featured image from Bastian Riccardi on Unsplash.com, CryptoQuant.com, chart from TradingView.com
Tweet123Share196ShareSend
Keshav Verma
Keshav Verma

Keshav Verma

Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021.

Read more

Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to.

In terms of official educational qualifications, Keshav holds a bachelor’s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions.

Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true.

Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn’t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment..

Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form.

Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new.

As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money.

Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn’t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs.

Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Epstein, MIT, Bitcoin : 7,5 M$ de fonds douteux au cœur d’une controverse.

Epstein, MIT, Bitcoin : 7,5 M$ de fonds douteux

L’affaire Jeffrey Epstein rattrape désormais le cœur de l’écosystème Bitcoin. De nouveaux documents du Congrès américain révèlent que le financier...

guillaumev 2 hours ago
Deblock : 30 M€ levés pour relier finance traditionnelle et DeFi.

Deblock : 30 M€ pour relier finance tradi et DeFi

En France, la frontière entre banque et crypto se fissure un peu plus. La fintech Deblock vient de lever 30...

guillaumev 3 hours ago
Ethereum

On-Chain Metric Tips Ethereum To Form Price Bottom Below $2,000 – Here’s Why

Ethereum has been a major victim of the ongoing crypto market onslaught, recording a 27.63% loss in the last month...

Semilore Faleti 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Crypto krach : 1 Md$ liquidés en 24 h sur BTC, ETH, SOL.

Crypto krach : 1 Md$ liquidés en 24 h sur BTC, ETH, SOL

evanss 14 minutes ago
Bitcoin

Bitcoin Local Bottom To Fall Between These Two Levels – Analyst

Semilore Faleti 31 minutes ago
Bitcoin

Bitcoin Rapid Downturn Triggered By Excessive Long Positions — Expert Weighs In

Opeyemi Sule 2 hours ago

Premium Sponsors

Press Releases

  • 仮想通貨投資の注目候補:2025年に台頭するビットコイン系レイヤー2は次の主役となるか

    ...

    3 hours ago
  • 仮想通貨 プレセールの有望銘柄:市場クラッシュ時に資産を守る新興マイニング系プロジェクトとは

    仮想通貨...

    4 hours ago
  • 新しい仮想通貨が2025年に再び盛り上がり:次世代型トークン群が市場の流れを変える

    ...

    4 hours ago
  • 仮想通貨 1000倍 を狙う注目銘柄:存在感を増す“新興プロジェクト群”

    仮想通貨 1000倍...

    4 hours ago
  • ico 仮想通貨ガイド:犬系ミームトークンが2025年プレセールの有力候補に浮上

    ico...

    5 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.