After showing signs of recovery last week, Bitcoin seems to have lost his upward momentum again. The cryptocurrency was closed at the psychological level of $ 90,000, but has since reversed the direction and has fallen by 6.4% last week to float around $ 82,000 at the time of writing.
This decline has paid renewed attention to market statistics that suggest that the rally may have been short -lived. In the midst of this downward movement, various analysts have asked the chain questions about whether recent price trends reflect the real question or speculative behavior.
In particular, insights from cryptoquant -contributors point to warning signals, including a divergence between market capitalization and actual network activity.
N / A -indicator signals caution in the midst of a layer of transaction volume
In a recent after Entitled “Manipulative movements or real value? A bitcoin and NVT analysis”, be cryptoquant analyst Borisvest on the network value and transactions (NVT) ratio as a critical statistics for understanding current market dynamics.
The NVT ratio is calculated by dividing the market capitalization of Bitcoin by its daily transaction volume. According to Borisvest, the raised NVT Golden Cross lecture from Bitcoin indicates a high market capitalization at low transaction activity – a combination that suggests that price inflation is driven by speculative interest rates instead of organic growth.
Borisvest emphasized that periods with a high NVT often precede market corrections. On the other hand, when the NVT falls into the green zone – a low market capitalization with rising transaction volume signals – it can form a stronger basis for price rating.
From now on, the metric suggests that Bitcoin’s recent price increase on transactional support is missing, and continuous pullbacks remain possible unless the volume returns to the network.
Bitcoin speculators absent, the sentiment remains careful
As an addition to the cautious prospects, another cryptoquant employee emphasized as Crypto Sunmoon the role of leverage in managing crypto -bull -bull markets.
The analyst pointed out that the financing percentages have recently been “dead-crossed”, which occurs when the financing rates fall in the short term below the long-term rates, which often indicates Bearish sentiment among traders.
According to Sunmoon, this shift suggests that speculators are currently not willing to take risks – an important part that is necessary to stimulate bullish price movements.
The analyst concluded that the efficiency of speculative trade behavior, usually characterized by rising financing percentages and lifting tree positions, is essential for the re -use of upward momentum in Bitcoin.
Until that time, the market sentiment can remain subdued, with sideways or falling price promotion more likely. According to these cryptoquant analysts, viewing the transaction volumes and financing trends from Bitcoin will be crucial to determine whether Bitcoin is set for a renewed outbreak or further consolidation.
Featured image made with Dall-e, graph of TradingView
