Despite a 9% decline in Bitcoin, the NVT Golden Cross metric remains high but not at risky levels, suggesting potential for an extra correction. Funding rates have normalized, but U.S. investor demand has turned negative.
The recent market shakeout was expected to lead to a stable recovery. However, the Bitcoin NVT Golden Cross, a crucial indicator for local tops and bottoms, remained at a high but not risky level despite a 9% decline in Bitcoin . This metric, a modified Network Value to Transaction (NVT) valuation, has accurately predicted past local BTC tops and bottoms. A reading above 2.2 suggests overbuying and a potential top, while a low reading of -1.6 indicates a possible bottom. Currently, at 1.
73, it hints at a potential extra correction. Meanwhile, funding rates have normalized post $90K drop, indicating that the leverage flush might have ended. Despite this, U.S. investor demand for Bitcoin turned negative, a worrying sign
Bitcoin NVT Golden Cross Market Recovery Funding Rates Investor Demand
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