Bitcoin ($BTC) continues to show growth, reaching a new high of $107K. CryptoQuant analyst Burak Kesmeci points out the absence of overheating signs in the market.
No Signs of Overheating
Analyzing the current situation, Burak Kesmeci states that despite hitting a new yearly high of $107K, Bitcoin does not show any signs of overheating. He emphasizes that the NVT Golden Cross metric remains below the critical level.
Importance of NVT Golden Cross
The NVT Golden Cross is an important market indicator that helps determine whether Bitcoin is in the overheated zone. Currently, this metric stands at 1.51, significantly below the critical mark of 2.2. This metric indicates the ratio of Bitcoin's market cap to transaction volume.
Price Movement Prospects
With the current value at 1.51, the crypto analyst expresses confidence in potential price changes before Bitcoin enters overheated territory. In the coming days, experts believe it will be clear how the market will develop.
Overall, despite Bitcoin's price growth to $107K, the market still has room for growth, and current market indicators do not imply overheating.
