{"id":638591,"date":"2024-08-29T23:00:09","date_gmt":"2024-08-29T23:00:09","guid":{"rendered":"https:\/\/uniquehot.com\/?p=638591"},"modified":"2024-08-29T16:51:45","modified_gmt":"2024-08-29T16:51:45","slug":"bitcoins-momentum-at-risk-nvt-golden-cross-signals","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/bitcoin-news\/bitcoins-momentum-at-risk-nvt-golden-cross-signals\/","title":{"rendered":"Bitcoin&#8217;s Momentum at Risk? NVT Golden Cross Sends Warning Signals"},"content":{"rendered":"<p>Bitcoin price action despite being wobbly in the past days, is still being discussed by analysts. Earlier today, a CryptoQuant analyst <a href=\"https:\/\/cryptoquant.com\/insights\/quicktake\/66cf9c47008db53fc0c9c876-The-NVT-Golden-Cross-is-struggling-to-surpass-its-previous-peak-what-does-this-m?utm_source=twitter&amp;utm_medium=sns&amp;utm_campaign=quicktake&amp;utm_content=burakkesmeci\" target=\"_blank\" rel=\"noopener nofollow\">turned<\/a> the spotlight to the Bitcoin&#8217;s NVT Golden Cross, a metric that has been known to signal potential local tops and bottoms in Bitcoin\u2019s price.<\/p>\n<p>According to the analyst, Burak Kesmeci, this metric is now showing a reason for concern as it is currently struggling to surpass its previous peaks.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoins-sudden-drop-could-this-be-a-setup\/\" target=\"_blank\" rel=\"noopener \">Bitcoin\u2019s Sudden Drop: Could This Be a Setup for a Massive Rally? Analyst Weighs In<\/a><\/div>\n<h2>How Is The NVT Golden Cross Signalling a Warning For Bitcoin?<\/h2>\n<p>To answer this question, it is worth first understanding what the NVT Goden Cross means. Notably, the NVT (Network Value to Transactions) Golden Cross is a major metric used to determine the <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoins-sudden-drop-could-this-be-a-setup\/\" target=\"_blank\" rel=\"noopener \">health of Bitcoin&#8217;s market<\/a>.<\/p>\n<p>It is calculated by dividing the network value (market cap) by the daily transaction volume, and then applying a moving average to this ratio.<\/p>\n<p>Traditionally, when the NVT Golden Cross rises above 2.2 points, it signals a <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-plummets-59000-on-chain-data-why\/\" target=\"_blank\" rel=\"noopener \">local top<\/a>, while dropping below -1.7 points indicates a local bottom.<\/p>\n<p>According to the report shared by the CryptoQuant analyst, the NVT Golden Cross has been showing a concerning trend over the past few months.<\/p>\n<p>The metric has consistently failed to surpass its previous peaks, which has historically been a bearish sign. Since March 2024, the peaks of the NVT Golden Cross have been <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/buying-bitcoin-now-like-sub-10000-in-2019\/\" target=\"_blank\" rel=\"noopener \">steadily declining<\/a>.<\/p>\n<p>Kesmeci disclosed that on March 31, the metric plunged to 3.17, on April 29, it decreased to 3.08, on May 27: 2.67, on July 29: 2.03 and on August 26: 1.46. According to Kesmeci, this declining trend suggests that the current uptrend in Bitcoin\u2019s price may be losing steam.<\/p>\n<p>The analyst noted:<\/p>\n<blockquote><p>It seems that for the momentum to be regained, the NVT Golden Cross needs to surpass the previous peak and bring the bulls behind it.<\/p><\/blockquote>\n<h2>Outlook On BTC Future<\/h2>\n<p>Despite the cautionary signals from the NVT Golden Cross, not all analysts are sounding the alarm. Prominent crypto analyst Ash Crypto recently shared a more optimistic outlook on X, <a href=\"https:\/\/x.com\/Ashcryptoreal\/status\/59744024\" target=\"_blank\" rel=\"noopener nofollow\">suggesting<\/a> that the current price dips should be viewed within the context of a <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-range-60k\/\" target=\"_blank\" rel=\"noopener \">broader bullish pattern<\/a>.<\/p>\n<p>Ash Crypto emphasized that the Bitcoin bull-flag pattern remains intact and that investors should focus on long-term charts rather than short-term volatility. Ash Crypto further supported his <a href=\"https:\/\/uniquehot.com\/news\/crypto-crash-320-million-wiped-out-as-bitcoin-and-ethereum-nosedive\/\" target=\"_blank\" rel=\"noopener \">bullish stance<\/a> by pointing to global liquidity metrics.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/crypto-crash-320-million-wiped-out-as-bitcoin-and-ethereum-nosedive\/\" target=\"_blank\" rel=\"noopener \">Crypto Crash: $320 Million Wiped Out As Bitcoin And Ethereum Nosedive<\/a><\/div>\n<p>He <a href=\"https:\/\/x.com\/Ashcryptoreal\/status\/60968873\" target=\"_blank\" rel=\"noopener nofollow\">noted<\/a> that global liquidity (M2) has reached an all-time high of $95 trillion, a factor that historically correlates with significant upward movements in Bitcoin\u2019s price.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">\ud83d\udea8 BREAKING\ud83d\udea8<\/p>\n<p>GLOBAL LIQUIDITY (M2) REACHED A<br \/>\nNEW ALL-TIME HIGH RECORD OF $95<br \/>\nTRILLION.<\/p>\n<p>BITCOIN ALWAYS FOLLOW GLOBAL<br \/>\nLIQUIDITY, SO BTC TO $125k+ SOON <a href=\"https:\/\/t.co\/NGGhxD38g2\" target=\"_blank\" rel=\"noopener nofollow\">pic.twitter.com\/NGGhxD38g2<\/a><\/p>\n<p>\u2014 Ash Crypto (@Ashcryptoreal) <a href=\"https:\/\/twitter.com\/Ashcryptoreal\/status\/60968873?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">August 29, 2024<\/a><\/p><\/blockquote>\n<p>According to his analysis, this could propel Bitcoin to reach the $100,000 mark sooner than many expect, with potential for even higher gains, possibly reaching $125,000.<\/p>\n<figure style=\"width: 2770px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/aP92BKpy\/\" alt=\"Bitcoin (BTC) price chart on TradingView\" width=\"2770\" height=\"1496\"><figcaption class=\"wp-caption-text\">BTC price is moving sideways on the 2-hour chart. Source: BTC\/USDT on <a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=BINANCE%3ABTCUSDT\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<p>Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price action despite being wobbly in the past days, is still being discussed by analysts. Earlier today, a CryptoQuant analyst turned the spotlight to the Bitcoin&#8217;s NVT Golden Cross, a metric that has been known to signal potential local tops and bottoms in Bitcoin\u2019s price. According to the analyst, Burak Kesmeci, this metric is now showing a reason for concern as it is currently struggling to surpass its previous peaks. Related Reading: Bitcoin\u2019s Sudden Drop: Could This Be a Setup for a Massive Rally? Analyst Weighs In How Is The NVT Golden Cross Signalling a Warning For Bitcoin? To answer this question, it is worth first understanding what the NVT Goden Cross means. Notably, the NVT (Network Value to Transactions) Golden Cross is a major metric used to determine the health of Bitcoin&#8217;s market. It is calculated by dividing the network value (market cap) by the daily transaction volume, and then applying a moving average to this ratio. Traditionally, when the NVT Golden Cross rises above 2.2 points, it signals a local top, while dropping below -1.7 points indicates a local bottom. According to the report shared by the CryptoQuant analyst, the NVT Golden Cross has been showing a concerning trend over the past few months. The metric has consistently failed to surpass its previous peaks, which has historically been a bearish sign. Since March 2024, the peaks of the NVT Golden Cross have been steadily declining. Kesmeci disclosed that on March 31, the metric plunged to 3.17, on April 29, it decreased to 3.08, on May 27: 2.67, on July 29: 2.03 and on August 26: 1.46. According to Kesmeci, this declining trend suggests that the current uptrend in Bitcoin\u2019s price may be losing steam. The analyst noted: It seems that for the momentum to be regained, the NVT Golden Cross needs to surpass the previous peak and bring the bulls behind it. Outlook On BTC Future Despite the cautionary signals from the NVT Golden Cross, not all analysts are sounding the alarm. Prominent crypto analyst Ash Crypto recently shared a more optimistic outlook on X, suggesting that the current price dips should be viewed within the context of a broader bullish pattern. Ash Crypto emphasized that the Bitcoin bull-flag pattern remains intact and that investors should focus on long-term charts rather than short-term volatility. Ash Crypto further supported his bullish stance by pointing to global liquidity metrics. Related Reading: Crypto Crash: $320 Million Wiped Out As Bitcoin And Ethereum Nosedive He noted that global liquidity (M2) has reached an all-time high of $95 trillion, a factor that historically correlates with significant upward movements in Bitcoin\u2019s price. \ud83d\udea8 BREAKING\ud83d\udea8 GLOBAL LIQUIDITY (M2) REACHED A NEW ALL-TIME HIGH RECORD OF $95 TRILLION. BITCOIN ALWAYS FOLLOW GLOBAL LIQUIDITY, SO BTC TO $125k+ SOON pic.twitter.com\/NGGhxD38g2 \u2014 Ash Crypto (@Ashcryptoreal) August 29, 2024 According to his analysis, this could propel Bitcoin to reach the $100,000 mark sooner than many expect, with potential for even higher gains, possibly reaching $125,000. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":638595,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,441,629,6848,1119,78790,6664,83531],"class_list":["post-638591","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-analysis","tag-bitcoin-market","tag-bitcoin-price-prediction","tag-btc","tag-btcusdt","tag-crypto","tag-cryptoquant"],"acf":[],"yoast_head":"\n<title>Bitcoin Momentum at Risk? NVT Golden Cross Sends Warning Signals<\/title>\n<meta name=\"description\" content=\"Bitcoin price action despite being wobbly in the past days, is still being discussed by analysts. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/uniquehot.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin&#8217;s Momentum at Risk? 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