Bitcoin Smashes $107K Milestone as NVT Golden Cross Flashes Green

Bitcoin just bulldozed through another psychological barrier—$107,000—while its NVT Golden Cross screams ’this rally’s got legs.’ No overheating signals here, despite what the Wall Street permabears might claim.

The network’s value-to-transaction metric—crypto’s version of a lie detector for bubbles—says this isn’t 2017 all over again. Meanwhile, traditional finance bros are still trying to short Tesla at $900.

Bitcoin ($BTC) has made another notable development by touching the $107K mark in price. As per the CryptoQuant analyst  going by “Burak Kesmeci,” despite attaining a new yearly high mark of $07,200, Bitcoin ($BTC) does not show any sign of overheat. The crypto analyst discussed the bullish outlook of the Bitcoin ecosystem while highlighting the NVT Golden Cross metric.

NVT Golden Cross Doesn’t Signal Overheating Yet

“Historically, readings above 2.2 have signaled the beginning of overheated conditions. While we’re not there yet, the rising trend deserves attention.” – By @burak_kesmeci pic.twitter.com/YaClQtHt6F

Bitcoin Shows Not Indication of Overheating Despite Reaching $107K

‘The Network Value to Transaction (NVT) Golden Cross is an important market indicator to gauge whether bitcoin ($BTC) has entered the overheated zone or not. At present, the metric is positive, pointing out that Bitcoin is currently out of the overheated territory. Hence, the present position of the NVT Golden Cross is up to 1.51, which is well below the critical 2.2 threshold.

level has historically been associated with overheated market conditions. The market onlooker says that the current status of the NVT Golden Cross signifies a considerable room before Bticoin encounters any attention-grabbing overheating concerns. The NVT Golden Cross denotes a widely utilized on-chain metric for the comparison of the market cap of Bitcoin ($BTC) with its regular transaction volume.

NVT Golden Cross Stands at 1.51, Presenting Huge Potential for Surge

In this respect, the metric measures the amount of value being transferred on the ecosystem relative to the cumulative market cap. Thus, at 1.51, Bitcoin’s NVT Golden Cross is well below the alarming 2.2 mark which WOULD underscore overheated conditions. Keeping this in view, the CryptoQuant analyst stays confident about massive price action before Bitcoin ($BTC) gets into an overheated territory. Nevertheless, to determine the further price movement, the next few days will play crucial role.