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Bitcoin's NVT Ratio Hits Critical Level: What It Means
Bitcoin's NVT Golden Cross has surpassed a critical level, signaling that the BTC market is overheated and at risk of a market bubble. Here are the key points:
- _NVT Golden Cross spikes to 2_: Indicates bears are taking over the market, signaling potential sustained downward pressure.
- _Bitcoin price drops 6.54% in 24 hours_: BTC has fallen to a low of $91k, with the market experiencing a correction.
- _Other indicators suggest a rebound_: Bitcoin whales remain bullish, and the Exchange Whale Ratio has dropped to a 10-day low, implying whales expect prices to rebound.
- _Long-term holders not panic selling_: Bitcoin's VDD Multiple remains above 1, indicating market stability and low selling pressure from long-term holders.
What's Next?
- _Potential rebound_: The market could recover soon, with BTC reclaiming $96,370 and attempting to reach $98,000.
- _Further correction possible_: A dip to $92,103 could occur if the correction continues. 1 reply
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