Bitcoin News: NVT Golden Cross Hits 60-Day Low, Signaling Potential Bullish Rebound

Recent on-chain data reveals that Bitcoin's Network Value to Transactions (NVT) Golden Cross has dropped to its lowest level in 60 days. This key metric, which compares Bitcoin's market capitalization to its transaction volume, suggests that the cryptocurrency may be undervalued and poised for a bullish rebound. Here's what this development could mean for Bitcoin's future price trajectory.

Bitcoin NVT Golden Cross Hits 60-Day Low: Is This Bullish?

On-chain data indicates that the Bitcoin Network Value to Transactions (NVT) Golden Cross has recently plummeted to its lowest level in two months. The NVT Ratio, which measures the ratio between Bitcoin's market cap and its transaction volume, suggests that when the ratio is low, Bitcoin could be poised for a bullish rebound due to high transaction volume. This decline in the NVT Golden Cross could imply that Bitcoin is currently undervalued, potentially signaling a buying opportunity for investors.

Will the US Drive G20 Nations to Adopt Bitcoin Reserves?

The cryptocurrency market has seen significant developments this year with the new US administration under President Donald Trump. Recently, Trump signed an executive order to establish the Presidential Working Group on Digital Asset Markets, which will assess the creation of a strategic Bitcoin reserve. This move has sparked discussions about the potential for G20 nations to follow suit. Coinbase's Brian Armstrong highlighted the possibility, noting Bitcoin's market cap of around $2 trillion. The community is speculating that several countries may soon adopt similar measures, recognizing Bitcoin as a viable form of money.

Bitcoin Stockpile Promises Questioned Amid Trump’s Digital Finance Agenda

US President Donald Trump has issued an executive order establishing the Presidential working group on digital asset markets. The move signals progress on some key commitments, such as halting federal efforts toward CBDCs and granting high-profile pardons. However, certain elements, like the promised creation of a 'strategic national Bitcoin stockpile,' remain notably absent or vague, leaving questions about the full scope and direction. According to Fox reporter Eleanor Terrett’s latest update, the working group, if established, is tasked with developing a Federal regulatory framework for digital assets, including stablecoins, and assessing the creation of a strategic national digital assets stockpile. This stockpile in question, however, does not mention Bitcoin despite earlier promises.

Bitcoin’s Rally Hits Pause – Will Its Support Level Hold as Long-Term Holders Sell?

Bitcoin’s recent rally past $109,000 has slowed down, with the cryptocurrency now consolidating just above $100,000. At press time, Bitcoin (BTC) was trading at $104,982, gaining 2.18% in the last 24 hours and 3.58% over the past week. The 24-hour trading volume was $104.8 billion, and the market cap stood at $2.08 trillion. Long-term Bitcoin holders have started selling after months of holding through the correction period from March 2024, according to SOPR (Spent Output Profit Ratio) data. Bitcoin derivatives volume surged by 74%, signaling cautious Optimism among traders.

Analyzing Trump’s Executive Order on Cryptocurrency

President Donald Trump signed an Executive Order on cryptocurrency, titled 'Strengthening American Leadership in Digital Financial Technology,' which establishes a federal task force to regulate and promote innovation in cryptocurrency markets. This move has sparked significant speculation about the future of the asset class, with Bitcoin experiencing volatile price movements as a reaction to the order. The order aims to lay the groundwork for a more structured approach to digital financial technology, reflecting both optimism and uncertainty in the market.