{"id":646165,"date":"2024-10-04T08:00:55","date_gmt":"2024-10-04T08:00:55","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=646165"},"modified":"2024-10-03T17:33:57","modified_gmt":"2024-10-03T17:33:57","slug":"bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/","title":{"rendered":"Bitcoin\u2019s NVT Cross Signals a Local Top \u2013 Is a Major Correction Looming?"},"content":{"rendered":"<p data-pm-slice=\"1 1 []\">Bitcoin has been experiencing some interesting developments in its market indicators, and a recent analysis points to the <a href=\"https:\/\/shenyangcang.com\/news\/bitcoin\/bitcoin-last-big-drop-expert-key-indicator\/\" target=\"_blank\" rel=\"noopener \">NVT (Network Value to Transactions) Golden Cross<\/a> signaling a potential short-term local top.<\/p>\n<p data-pm-slice=\"1 1 []\">According to a CryptoQuant analyst known as Darkfost, the NVT Golden Cross\u2014a key metric used to determine market valuation relative to transaction volume\u2014has reached a major level.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/news\/bitcoin\/bitcoin-last-big-drop-expert-key-indicator\/\" target=\"_blank\" rel=\"noopener \">Is This Bitcoin\u2019s Last Big Drop? Expert Points To Key Indicator<\/a><\/div>\n<h2 data-pm-slice=\"1 1 []\">Local Top Spotted, What Next?<\/h2>\n<p data-pm-slice=\"1 1 []\">The CryptoQuant analyst <a href=\"https:\/\/cryptoquant.com\/insights\/quicktake\/66fc48685862d25bc172ca9b-The-NVT-Golden-Cross-Signals-a-Local-Top\" target=\"_blank\" rel=\"noopener nofollow\">revealed<\/a> that Bitcoin&#8217;s NVT Golden Cross has recently reached the 2.9 level, suggesting that the market cap, or price, of Bitcoin, may be outpacing its transaction volume.<\/p>\n<figure style=\"width: 1280px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/img.cryptoquant.com\/563193\/quicktake\/gOWOd9Ak_1706cea8fdc7a6c9ac62ca8e738bfd993ab252126d1a07c603883.png?resize=1280%2C519&#038;ssl=1\" alt=\"Bitcoin NVT Golden Cross.\" width=\"1280\" height=\"519\"><figcaption class=\"wp-caption-text\">Bitcoin NVT Golden Cross. | Source: CryptoQuant<\/figcaption><\/figure>\n<p data-pm-slice=\"1 1 []\">Particularly, Darkfost explained that a value above 2.2 indicates the possibility of reversing the mean, suggesting that the current valuation could be overextended. On the other hand, a value below -1.6 would indicate that the market is potentially undervalued.<\/p>\n<p>For context, the NVT Golden Cross compares the market cap of Bitcoin to the volume of transactions on its network, providing a measure of whether Bitcoin is being traded at a fair value.\u00a0<span style=\"margin: 0px;padding: 0px\">The <a href=\"https:\/\/shenyangcang.com\/bitcoin-news\/is-bitcoin-on-the-brink-of-a-reversal-heres-what-this-key-indicator-suggests\/\" target=\"_blank\" rel=\"noopener \">signals<\/a> become stronger when the metric moves deeper into its upper or lower zones<\/span>.<\/p>\n<p>At a current value of 2.9, the indication is that Bitcoin may face short-term price resistance, possibly pointing to a local top at around $65,800, Darkforst revealed.<\/p>\n<p>The analyst adds that such levels can gauge potential long and short positions, especially when viewed alongside global chart trends and <a href=\"https:\/\/shenyangcang.com\/news\/bitcoin\/bitcoin-final-test-btc-price\/\" target=\"_blank\" rel=\"noopener \">broader market behaviour<\/a>.<\/p>\n<h2 data-pm-slice=\"1 1 []\">Bitcoin On The Verge Of Major Correction?<\/h2>\n<p>While the NVT Golden Cross presents a perspective of <a href=\"https:\/\/shenyangcang.com\/news\/bitcoin\/israel-iran-conflict-bitcoin-further-down\/\" target=\"_blank\" rel=\"noopener \">potential market overvaluation<\/a>, another CryptoQuant analyst, CryptoOnchain, offers additional insights by analyzing Bitcoin&#8217;s movement between exchanges. The recent <a href=\"https:\/\/cryptoquant.com\/insights\/quicktake\/66fe4ff2c1ff132140a884ec-largest-outflow-of-Bitcoin-from-exchanges-since-November-2022\" target=\"_blank\" rel=\"noopener nofollow\">data<\/a> shows a significant outflow of Bitcoin from centralized exchanges.<\/p>\n<p>This trend of Bitcoin being withdrawn from exchanges is seen across all three key moving averages: 30-day, 50-day, and 100-day. The analyst revealed that such an outflow hasn&#8217;t been observed at this scale since November 2022.<\/p>\n<figure style=\"width: 1280px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/img.cryptoquant.com\/331846\/quicktake\/qtprQqf_23ecf4039e81eeebc00bf3896038a89e6fafda984687c2e5f5206dc444fcaf21.png?resize=1280%2C720&#038;ssl=1\" alt=\"Bitcoin Exchange Outflow.\" width=\"1280\" height=\"720\"><figcaption class=\"wp-caption-text\">Bitcoin Exchange Outflow. | Source: CryptoQuant<\/figcaption><\/figure>\n<p>Notably, a decrease in Bitcoin held on exchanges can be interpreted in multiple ways. Firstly, it often suggests that investors move their assets to more secure storage, such as cold wallets, to hold rather than trade.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/bitcoin-news\/is-bitcoin-on-the-brink-of-a-reversal-heres-what-this-key-indicator-suggests\/\" target=\"_blank\" rel=\"noopener \">Is Bitcoin On The Brink Of A Reversal? Here\u2019s What This Key Indicator Suggests<\/a><\/div>\n<p>This behavior can signal confidence in the asset, as holders may expect its value to increase over time. With fewer BTC available on exchanges for immediate sale, the potential for downward price pressure may decrease, which could set the stage for a<a href=\"https:\/\/shenyangcang.com\/bitcoin-news\/analysts-unfazed-by-bitcoin-btc-drop-but-should-we-fear-october-5\/\" target=\"_blank\" rel=\"noopener \"> bullish momentum<\/a> in the longer term.<\/p>\n<p>However, it can also indicate that traders prepare to exit their positions, anticipating a correction if they foresee market instability or overvaluation.<\/p>\n<figure style=\"width: 2770px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/YviAE7PI\/\" alt=\"Bitcoin (BTC) price chart from TradingView\" width=\"2770\" height=\"1556\"><figcaption class=\"wp-caption-text\">BTC price is moving downwards on the 1-hour chart. Source: BTC\/USDT on <a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=TSE%3A3350\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<p>Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin has been experiencing some interesting developments in its market indicators, and a recent analysis points to the NVT (Network Value to Transactions) Golden Cross signaling a potential short-term local top. According to a CryptoQuant analyst known as Darkfost, the NVT Golden Cross\u2014a key metric used to determine market valuation relative to transaction volume\u2014has reached a major level. Related Reading: Is This Bitcoin\u2019s Last Big Drop? Expert Points To Key Indicator Local Top Spotted, What Next? The CryptoQuant analyst revealed that Bitcoin&#8217;s NVT Golden Cross has recently reached the 2.9 level, suggesting that the market cap, or price, of Bitcoin, may be outpacing its transaction volume. Particularly, Darkfost explained that a value above 2.2 indicates the possibility of reversing the mean, suggesting that the current valuation could be overextended. On the other hand, a value below -1.6 would indicate that the market is potentially undervalued. For context, the NVT Golden Cross compares the market cap of Bitcoin to the volume of transactions on its network, providing a measure of whether Bitcoin is being traded at a fair value.\u00a0The signals become stronger when the metric moves deeper into its upper or lower zones. At a current value of 2.9, the indication is that Bitcoin may face short-term price resistance, possibly pointing to a local top at around $65,800, Darkforst revealed. The analyst adds that such levels can gauge potential long and short positions, especially when viewed alongside global chart trends and broader market behaviour. Bitcoin On The Verge Of Major Correction? While the NVT Golden Cross presents a perspective of potential market overvaluation, another CryptoQuant analyst, CryptoOnchain, offers additional insights by analyzing Bitcoin&#8217;s movement between exchanges. The recent data shows a significant outflow of Bitcoin from centralized exchanges. This trend of Bitcoin being withdrawn from exchanges is seen across all three key moving averages: 30-day, 50-day, and 100-day. The analyst revealed that such an outflow hasn&#8217;t been observed at this scale since November 2022. Notably, a decrease in Bitcoin held on exchanges can be interpreted in multiple ways. Firstly, it often suggests that investors move their assets to more secure storage, such as cold wallets, to hold rather than trade. Related Reading: Is Bitcoin On The Brink Of A Reversal? Here\u2019s What This Key Indicator Suggests This behavior can signal confidence in the asset, as holders may expect its value to increase over time. With fewer BTC available on exchanges for immediate sale, the potential for downward price pressure may decrease, which could set the stage for a bullish momentum in the longer term. However, it can also indicate that traders prepare to exit their positions, anticipating a correction if they foresee market instability or overvaluation. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":646179,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,441,629,1119,78790,10923,83531],"class_list":["post-646165","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-analysis","tag-bitcoin-market","tag-btc","tag-btcusdt","tag-crypto-market","tag-cryptoquant"],"acf":[],"yoast_head":"\n<title>Bitcoin NVT Cross Signals a Local Top \u2013 Is a Major Correction Looming?<\/title>\n<meta name=\"description\" content=\"Bitcoin has been experiencing some interesting developments in its market indicators, and a recent analysis points to the NVT (Network...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin NVT Cross Signals a Local Top \u2013 Is a Major Correction Looming?\" \/>\n<meta property=\"og:description\" content=\"Bitcoin has been experiencing some interesting developments in its market indicators, and a recent analysis points to the NVT (Network...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-04T08:00:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-03T17:33:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-03-18.19.58-A-digital-illustration-depicting-Bitcoins-NVT-Network-Value-to-Transactions-cross-signaling-a-local-top-and-a-potential-major-correction.-The-image.jpg?fit=1024%2C1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Samuel Edyme\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@0xEdyme\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Samuel Edyme\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/\"},\"author\":{\"name\":\"Samuel Edyme\",\"@id\":\"https:\/\/shenyangcang.com\/#\/schema\/person\/d19b5f18d945fb75e71771134d0e2500\"},\"headline\":\"Bitcoin\u2019s NVT Cross Signals a Local Top \u2013 Is a Major Correction Looming?\",\"datePublished\":\"2024-10-04T08:00:55+00:00\",\"dateModified\":\"2024-10-03T17:33:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/\"},\"wordCount\":513,\"publisher\":{\"@id\":\"https:\/\/shenyangcang.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-03-18.19.58-A-digital-illustration-depicting-Bitcoins-NVT-Network-Value-to-Transactions-cross-signaling-a-local-top-and-a-potential-major-correction.-The-image.jpg?fit=1024%2C1024\",\"keywords\":[\"bitcoin\",\"bitcoin analysis\",\"bitcoin market\",\"btc\",\"BTCUSDT\",\"crypto market\",\"cryptoquant\"],\"articleSection\":[\"Bitcoin News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/shenyangcang.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/\",\"url\":\"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/\",\"name\":\"Bitcoin NVT Cross Signals a Local Top \u2013 Is a Major Correction Looming?\",\"isPartOf\":{\"@id\":\"https:\/\/shenyangcang.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-03-18.19.58-A-digital-illustration-depicting-Bitcoins-NVT-Network-Value-to-Transactions-cross-signaling-a-local-top-and-a-potential-major-correction.-The-image.jpg?fit=1024%2C1024\",\"datePublished\":\"2024-10-04T08:00:55+00:00\",\"dateModified\":\"2024-10-03T17:33:57+00:00\",\"description\":\"Bitcoin has been experiencing some interesting developments in its market indicators, and a recent analysis points to the NVT (Network...\",\"breadcrumb\":{\"@id\":\"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/#primaryimage\",\"url\":\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-03-18.19.58-A-digital-illustration-depicting-Bitcoins-NVT-Network-Value-to-Transactions-cross-signaling-a-local-top-and-a-potential-major-correction.-The-image.jpg?fit=1024%2C1024\",\"contentUrl\":\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-03-18.19.58-A-digital-illustration-depicting-Bitcoins-NVT-Network-Value-to-Transactions-cross-signaling-a-local-top-and-a-potential-major-correction.-The-image.jpg?fit=1024%2C1024\",\"width\":1024,\"height\":1024,\"caption\":\"Bitcoin NVT Cross Signals a Local Top \u2013 Is a Major Correction Looming?\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/shenyangcang.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bitcoin\u2019s NVT Cross Signals a Local Top \u2013 Is a Major Correction Looming?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/shenyangcang.com\/#website\",\"url\":\"https:\/\/shenyangcang.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin &amp; Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/shenyangcang.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/shenyangcang.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/shenyangcang.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/shenyangcang.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/shenyangcang.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/shenyangcang.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/shenyangcang.com\/#\/schema\/person\/d19b5f18d945fb75e71771134d0e2500\",\"name\":\"Samuel Edyme\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/shenyangcang.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g\",\"caption\":\"Samuel Edyme\"},\"description\":\"Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.\",\"sameAs\":[\"https:\/\/x.com\/0xEdyme\"],\"url\":\"https:\/\/shenyangcang.com\/author\/samueledymeabayomi\/\"}]}<\/script>\n","yoast_head_json":{"title":"Bitcoin NVT Cross Signals a Local Top \u2013 Is a Major Correction Looming?","description":"Bitcoin has been experiencing some interesting developments in its market indicators, and a recent analysis points to the NVT (Network...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/","og_locale":"en_US","og_type":"article","og_title":"Bitcoin NVT Cross Signals a Local Top \u2013 Is a Major Correction Looming?","og_description":"Bitcoin has been experiencing some interesting developments in its market indicators, and a recent analysis points to the NVT (Network...","og_url":"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2024-10-04T08:00:55+00:00","article_modified_time":"2024-10-03T17:33:57+00:00","og_image":[{"width":1024,"height":1024,"url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-03-18.19.58-A-digital-illustration-depicting-Bitcoins-NVT-Network-Value-to-Transactions-cross-signaling-a-local-top-and-a-potential-major-correction.-The-image.jpg?fit=1024%2C1024","type":"image\/jpeg"}],"author":"Samuel Edyme","twitter_card":"summary_large_image","twitter_creator":"@0xEdyme","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Samuel Edyme","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/#article","isPartOf":{"@id":"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/"},"author":{"name":"Samuel Edyme","@id":"https:\/\/shenyangcang.com\/#\/schema\/person\/d19b5f18d945fb75e71771134d0e2500"},"headline":"Bitcoin\u2019s NVT Cross Signals a Local Top \u2013 Is a Major Correction Looming?","datePublished":"2024-10-04T08:00:55+00:00","dateModified":"2024-10-03T17:33:57+00:00","mainEntityOfPage":{"@id":"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/"},"wordCount":513,"publisher":{"@id":"https:\/\/shenyangcang.com\/#organization"},"image":{"@id":"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/#primaryimage"},"thumbnailUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-03-18.19.58-A-digital-illustration-depicting-Bitcoins-NVT-Network-Value-to-Transactions-cross-signaling-a-local-top-and-a-potential-major-correction.-The-image.jpg?fit=1024%2C1024","keywords":["bitcoin","bitcoin analysis","bitcoin market","btc","BTCUSDT","crypto market","cryptoquant"],"articleSection":["Bitcoin News"],"inLanguage":"en-US","copyrightYear":"2024","copyrightHolder":{"@id":"https:\/\/shenyangcang.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/","url":"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/","name":"Bitcoin NVT Cross Signals a Local Top \u2013 Is a Major Correction Looming?","isPartOf":{"@id":"https:\/\/shenyangcang.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/#primaryimage"},"image":{"@id":"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/#primaryimage"},"thumbnailUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-03-18.19.58-A-digital-illustration-depicting-Bitcoins-NVT-Network-Value-to-Transactions-cross-signaling-a-local-top-and-a-potential-major-correction.-The-image.jpg?fit=1024%2C1024","datePublished":"2024-10-04T08:00:55+00:00","dateModified":"2024-10-03T17:33:57+00:00","description":"Bitcoin has been experiencing some interesting developments in its market indicators, and a recent analysis points to the NVT (Network...","breadcrumb":{"@id":"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/#primaryimage","url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-03-18.19.58-A-digital-illustration-depicting-Bitcoins-NVT-Network-Value-to-Transactions-cross-signaling-a-local-top-and-a-potential-major-correction.-The-image.jpg?fit=1024%2C1024","contentUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-03-18.19.58-A-digital-illustration-depicting-Bitcoins-NVT-Network-Value-to-Transactions-cross-signaling-a-local-top-and-a-potential-major-correction.-The-image.jpg?fit=1024%2C1024","width":1024,"height":1024,"caption":"Bitcoin NVT Cross Signals a Local Top \u2013 Is a Major Correction Looming?"},{"@type":"BreadcrumbList","@id":"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/shenyangcang.com\/"},{"@type":"ListItem","position":2,"name":"Bitcoin\u2019s NVT Cross Signals a Local Top \u2013 Is a Major Correction Looming?"}]},{"@type":"WebSite","@id":"https:\/\/shenyangcang.com\/#website","url":"https:\/\/shenyangcang.com\/","name":"NewsBTC","description":"Bitcoin &amp; Cryptocurrency News Today","publisher":{"@id":"https:\/\/shenyangcang.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/shenyangcang.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/shenyangcang.com\/#organization","name":"NewsBTC","url":"https:\/\/shenyangcang.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/shenyangcang.com\/#\/schema\/logo\/image\/","url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/shenyangcang.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/shenyangcang.com\/#\/schema\/person\/d19b5f18d945fb75e71771134d0e2500","name":"Samuel Edyme","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/shenyangcang.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","caption":"Samuel Edyme"},"description":"Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/shenyangcang.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin\u2019s NVT Cross Signals a Local Top \u2013 Is a Major Correction Looming?","url":"http:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/"},"thumbnailUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-03-18.19.58-A-digital-illustration-depicting-Bitcoins-NVT-Network-Value-to-Transactions-cross-signaling-a-local-top-and-a-potential-major-correction.-The-image.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-03-18.19.58-A-digital-illustration-depicting-Bitcoins-NVT-Network-Value-to-Transactions-cross-signaling-a-local-top-and-a-potential-major-correction.-The-image.jpg?fit=1024%2C1024"},"articleSection":"Bitcoin News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin analysis","bitcoin market","btc","btcusdt","crypto market","cryptoquant"],"dateCreated":"2024-10-04T08:00:55Z","datePublished":"2024-10-04T08:00:55Z","dateModified":"2024-10-04T08:00:55Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin\\u2019s NVT Cross Signals a Local Top \\u2013 Is a Major Correction Looming?\",\"url\":\"http:\\\/\\\/shenyangcang.com\\\/bitcoin-news\\\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/shenyangcang.com\\\/bitcoin-news\\\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/DALL\\u00b7E-2024-10-03-18.19.58-A-digital-illustration-depicting-Bitcoins-NVT-Network-Value-to-Transactions-cross-signaling-a-local-top-and-a-potential-major-correction.-The-image.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/DALL\\u00b7E-2024-10-03-18.19.58-A-digital-illustration-depicting-Bitcoins-NVT-Network-Value-to-Transactions-cross-signaling-a-local-top-and-a-potential-major-correction.-The-image.jpg?fit=1024%2C1024\"},\"articleSection\":\"Bitcoin News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin analysis\",\"bitcoin market\",\"btc\",\"btcusdt\",\"crypto market\",\"cryptoquant\"],\"dateCreated\":\"2024-10-04T08:00:55Z\",\"datePublished\":\"2024-10-04T08:00:55Z\",\"dateModified\":\"2024-10-04T08:00:55Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/shenyangcang.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-03-18.19.58-A-digital-illustration-depicting-Bitcoins-NVT-Network-Value-to-Transactions-cross-signaling-a-local-top-and-a-potential-major-correction.-The-image.jpg?fit=1024%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/646165"}],"collection":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/comments?post=646165"}],"version-history":[{"count":3,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/646165\/revisions"}],"predecessor-version":[{"id":646190,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/646165\/revisions\/646190"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media\/646179"}],"wp:attachment":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media?parent=646165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/categories?post=646165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/tags?post=646165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}