Summary
- Bitcoin has surpassed $107,000, but the NVT Golden Cross indicator is only at 1.51, indicating that the market is not yet overheated.
- The NVT Golden Cross is a key indicator that analyzes trading volume relative to Bitcoin's market capitalization to determine overbought conditions.
- Bitcoin is currently trading at $107,252 on the Binance USDT market, up 1.66%.
Bitcoin (BTC) has surpassed the $107,000 mark, yet opinions suggest that the market is still not in an overheated stage.
On the 21st (local time), CryptoQuant contributor Burakkesmeci stated, "Bitcoin has surpassed $107,000, but the NVT Golden Cross indicator is only at 1.51," adding, "The market is not yet overheated. We should pay attention to the upcoming upward trend."
The NVT Golden Cross is an on-chain indicator that analyzes the trading volume relative to Bitcoin's market capitalization to determine whether it is overbought or oversold. Typically, a reading above 2.2 is considered a signal of market overheating.
As of 4:17 PM, Bitcoin is trading at $107,252 on the Binance USDT market, up 1.66% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
