Pricing
Log in Sign up
insight thumbnail

Bitcoin price is set for expressive growth, according to key indicators (MVRV and NVT)

@0xc26524ff3e2e5078afbb64c9b4ce4474a9ed4140
1 min read
26.07.2024
NVT
BITCOIN
BTC

Bitcoin (BTC) is on a volatile ride inside a five-month price range between $60,000 and $72,000. However, the Market Value to Realized Value (MVRV) and Network Value-to-Transaction (NVT) onchain indicators suggest BTC could be ready for expressive growth.

BTC: MVRV Ratio (90d) + NVT Ratio (with Circulation). Source: Santiment / Vini Barbosa (@vinibarbosabr)


On July 26, these metrics hint at a favorable scenario for Bitcoin to retest and possibly break the range’s resistance.


As of this writing, Bitcoin trades at $67,500 with a recovering 90-day MVRV ratio of 4.74% and a circulation-based NVT in a downtrend at 248 points. The potential breakout, however, may not occur immediately, and BTC could retest the range’s support before bouncing back up.


Read more at Finbold: https://finbold.com/bitcoin-price-is-set-for-expressive-growth-according-to-key-indicators/

Follow me on 𝕏 @vinibarbosabr

Was this Insight helpful to you? Your feedback means a lot to us!

Featured in this Insight

Bitcoin BTC

$ 117767.27
-1.23%
in last 7d

NerveNetwork NVT

$ 0.001504
-17.28%
in last 7d

Grayscale BTC ETF mini BTC

N/A
0%
in last 7d

HarryPotterObamaSonic10Inu 2.0 BITCOIN

$ 3.043734
1987475.51%
in last 7d

HarryPotterObamaSonic10Inu (ERC-20) BITCOIN

$ 0.108223
1.21%
in last 7d
NVT
BITCOIN
BTC

Conversations (0)

No comments yet
Be the first to comment

We are using cookies to improve your experience!

By clicking “Allow all”, you agree to use of all cookies. Visit our Cookies Policy to learn more.