When US President Donald Trump moved to introduce new tariffs on Canada, Mexico and China this past week, Bitcoin (BTC) fell to about $ 91,500 in the midst of fear of a global trade war. Although the Virgin Cryptocurrency quickly recovered from Flasholyckan, a strong refusal on the price zone of $ 102,000 draws a lot of speculation about the future of the current bull driving.
Bitcoin’s Advanced NVT flashes the local bottom signal – what does that mean?
IN An X post On February 7, the well-known crypto-analyst Burak Kesmeci shared some insights about Bitcoin Advanced NVT (network value for transaction) -A on-chain metric that evaluates BTC’s market valuation relative to its transaction volume.
In general, the advanced NVT signal helps trader identify over purchases (low volume, high price) and over -sales (high volume, low prices) for the Bitcoin market, which predicts future market trends. According to Kesmeci, Bitcoin Advanced NVT Has specified the local bottom on four occasions during the past year: May 2, 2024, with a score of 30.78, August 5, 2024 (35.82), September 6, 2024 (35.81) and 10 October 2024 (38.21).
In each of these cases, BTC experienced a price recycling but was preceded by a short accumulation phase. Interestingly, when Bitcoin crashed to $ 91,000 over the past week, the advanced NVT metric dropped to 38.13 – a level that corresponds to the former local bottom. This development indicates that Bitcoin is due to a price collection.
Although a short -term price destruction is possible, historical data indicates that Bitcoin is likely to remain in consolidation for a period before a strong price collection starts. Interestingly, after its rejection of $ 102,000, BTC shows an interval-bound movement between $ 95,000- $ 100,000. For a price collection, marketballs must overcome the resistance to $ 102,000, with additional obstacles to $ 105,000 and $ 106,000.
BTC records $ 267 million in exchange of exchange
In second news, Blockchain Analytics Company Intotoblock reports that the Bitcoin market experienced $ 267 million in net replacement flows that form a three-week line of outflows.
Consistent net outflow is a hooked signal that indicates that investors are moving their assets from exchanges, which reduces any sales printing. Although the latest positive trend continues, the latest outflow volume is significantly lower than the levels registered in November 2024 that indicate space for growth in investors’ trust.
At the time of writing, BTC deals with $ 96,720, which reflects a decline of 0.84% over the past 24 hours. The main asset experienced a turbulent trade week with a total loss of 6.48%and drove its monthly profits to 2.90%. With a market value of $ 1.9 trillion, Bitcoin remains the largest Cryptocurrency and the eighth largest asset in the world.
Image from iStock, chart from tradingview