比特幣NVT Golden Cross現在幾乎過熱領土

鏈上數據顯示，交易的比特幣網絡價值（NVT）目前顯示出一種軌跡，可以暗示BTC價格的看跌效果。

On-chain data from CryptoQuant indicates that the Bitcoin (BTC) Network Value to Transactions (NVT) Golden Cross has entered overheated territory, which could spell trouble for the BTC price.

來自CryptoQuant的鏈上數據表明，BTC（NVT）Golden Cross的比特幣（BTC）網絡值已進入過熱領土，這可能會為BTC價格帶來麻煩。

Bitcoin NVT Golden Cross Is Near Overheated Territory

比特幣NVT Golden Cross靠近過熱領土

As explained by analyst Mohsin Jamil in a recent CryptoQuant Quicktake, the NVT Golden Cross is a modified form of the NVT Ratio, an on-chain indicator that tracks the ratio between the Bitcoin market cap and transaction volume.

正如分析師Mohsin Jamil在最近的一個加密快速傳說中所解釋的那樣，NVT Golden Cross是NVT比率的修改形式，NVT比率是一種鍊鍊指標，它跟踪比特幣市場上限和交易量之間的比率。

The market cap here is simply the total value of the cryptocurrency’s circulating supply at the current spot price, while the transaction volume is a measure of the total amount of the asset that’s becoming involved in transfer activities on the network.

這裡的市值僅僅是以當前價格價格循環供應的循環供應的總價值，而交易量是衡量與網絡轉移活動有關的資產總量的衡量。

When the value of the NVT Ratio is high, it means BTC’s value (that is, the market cap) is high compared to its ability to transact coins (the transaction volume). Such a trend can be a sign that the coin is overvalued.

當NVT比的值很高時，它意味著BTC的價值（即市值）與交易硬幣的能力（交易量）相比很高。這樣的趨勢可能表明硬幣被高估了。

On the other hand, the metric being low suggests the cryptocurrency’s price could be due a rebound to the upside, as the market cap isn’t overheated compared to the volume.

另一方面，度量低的指標表明，加密貨幣的價格可能會帶來上漲空間，因為與數量相比，市值沒有過熱。

In the context of the current topic, a modified form of the NVT Ratio known as the NVT Golden Cross is the indicator of interest. The NVT Golden Cross is a metric similar to the Bollinger Bands, which compares the short-term trend of the NVT Ratio against its long-term one to determine whether a top or bottom is near. The indicator uses the 10-day moving average (MA) for the short-term trend and the 30-day MA for the long-term one.

在當前主題的背景下，NVT比率的修改形式稱為NVT Golden Cross是感興趣的指標。 NVT Golden Cross是一個類似於Bollinger帶的度量標準，它比較了NVT比與長期的短期趨勢，以確定頂部還是底部接近。該指標使用短期趨勢的10天移動平均線（MA）和長期的30天MA。

Now, here is a chart that shows the trend in the Bitcoin NVT Golden Cross over the past year:

現在，這是一張圖表，顯示了過去一年比特幣NVT金十字的趨勢：

As displayed in the above graph, the Bitcoin NVT Golden Cross recently touched a high value. The indicator’s rise was so sharp that it entered into a special zone past the 2.2 mark.

如上圖所示，比特幣NVT Golden Cross最近觸及了高值。指標的上升是如此急劇，以至於它進入了2.2分的特殊區域。

In this region, the asset’s price has often formed some sort of top. The same also held true during the visit into the zone this time around, with BTC’s price witnessing a bearish reversal.

在該地區，資產的價格通常形成了某種頂級。這次訪問該區域期間也是如此，BTC的價格見證了看跌的逆轉。

As the coin’s price has gone through a retrace in the past week, the metric has also cooled off. Despite the decline, however, its value still remains relatively high. As the quant notes,

隨著硬幣的價格在過去一周的回顧中經歷了回顧，該指標也降低了。儘管下降，但其價值仍然相對較高。如量子說明，

Currently, the NVT indicates that the pullback is likely to continue and that the recent price rise was driven by manipulation. For the upward trend to be sustainable, transaction volumes on the network must increase.

目前，NVT表明回調可能會繼續，最近的價格上漲是由操縱驅動的。為了使上升趨勢具有可持續性，網絡上的交易量必須增加。

Historically, bottoms have tended to occur when the Bitcoin NVT Golden Cross has gone under the -1.6 mark. So far, the indicator has only dropped to 1.8, meaning that it still has quite the ways to go before it enters into this region.

從歷史上看，當比特幣NVT Golden Cross跌破-1.6時，底部往往會發生。到目前為止，該指標僅降至1.8，這意味著它仍然有很大的方法進入該區域。

BTC Price

BTC價格

At the time of writing, Bitcoin is trading above the $83,000 mark, down almost 6% in the last seven days.

在撰寫本文時，比特幣的交易高於$ 83,000，在過去的七天中下降了近6％。