Bitcoin’s Bullish Momentum: Advanced NVT Signals Continued Growth
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Bitcoin recently hit a new all-time high of $111,970 before retracing slightly to around $108,000 due to macroeconomic factors. However, crypto analyst Burak Kesmeci remains bullish, citing the Advanced Network Value to Transactions (NVT) metric as a key indicator. The Advanced NVT compares Bitcoin's market cap to its daily transaction volume, with higher values suggesting increased speculation. Kesmeci points out that the Bitcoin Advanced NVT has crossed above the +2 standard deviation level, a historically significant threshold often preceding bullish periods. Past instances of this crossover, notably in Q4 2023 and Q4 2024, have been followed by extended periods of upward price momentum. While the Advanced NVT is currently trending downward, Kesmeci believes that as long as it stays above the +2xSD level, the uptrend will likely continue. This suggests a strong potential for Bitcoin to reach new price highs in the coming weeks. Despite this positive outlook, macroeconomic factors, especially US trade policy, remain a significant source of potential volatility and could cause setbacks. Currently, Bitcoin is trading at approximately $107,835, with recent gains of 4.02% over seven days and 15.37% over thirty days. Network fees have increased by 51.03%, indicating higher transaction activity, while exchange inflows are considered “mild,” suggesting strong investor confidence. Bitcoin's market cap remains at $2.13 trillion, solidifying its position as the largest cryptocurrency and the fifth largest asset globally.
