比特币NVT Golden Cross现在几乎过热领土

链上数据显示，交易的比特币网络价值（NVT）目前显示出一种轨迹，可以暗示BTC价格的看跌效果。

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.

来自CryptoQuant的链上数据表明，BTC（NVT）Golden Cross的比特币（BTC）网络值已进入过热领土，这可能会为BTC价格带来麻烦。

Bitcoin NVT Golden Cross Is Near Overheated Territory

比特币NVT Golden Cross靠近过热领土

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.

正如分析师Mohsin Jamil在最近的一个加密快速传说中所解释的那样，NVT Golden Cross是NVT比率的修改形式，NVT比率是一种链链指标，它跟踪比特币市场上限和交易量之间的比率。

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.

这里的市值仅仅是以当前价格价格循环供应的循环供应的总价值，而交易量是衡量与网络转移活动有关的资产总量的衡量。

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.

当NVT比的值很高时，它意味着BTC的价值（即市值）与交易硬币的能力（交易量）相比很高。这样的趋势可能表明硬币被高估了。

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，度量低的指标表明，加密货币的价格可能会带来上涨空间，因为与数量相比，市值没有过热。

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.

在当前主题的背景下，NVT比率的修改形式称为NVT Golden Cross是感兴趣的指标。 NVT Golden Cross是一个类似于Bollinger带的度量标准，它比较了NVT比与长期的短期趋势，以确定顶部还是底部接近。该指标使用短期趋势的10天移动平均线（MA）和长期的30天MA。

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

现在，这是一张图表，显示了过去一年比特币NVT金十字的趋势：

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.

如上图所示，比特币NVT Golden Cross最近触及了高值。指标的上升是如此急剧，以至于它进入了2.2分的特殊区域。

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.

在该地区，资产的价格通常形成了某种顶级。这次访问该区域期间也是如此，BTC的价格见证了看跌的逆转。

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,

随着硬币的价格在过去一周的回顾中经历了回顾，该指标也降低了。尽管下降，但其价值仍然相对较高。如量子说明，

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表明回调可能会继续，最近的价格上涨是由操纵驱动的。为了使上升趋势具有可持续性，网络上的交易量必须增加。

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.

从历史上看，当比特币NVT Golden Cross跌破-1.6时，底部往往会发生。到目前为止，该指标仅降至1.8，这意味着它仍然有很大的方法进入该区域。

BTC Price

BTC价格

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

在撰写本文时，比特币的交易高于$ 83,000，在过去的七天中下降了近6％。