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Bitcoin metric calls ‘local bottom’ as traders eye sub-$60K BTC price

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Source: Coin Telegraph

BTC price expectations demand a trip below $60,000 before upside continuation, but a market top and bottom metric says the worst is over.

Bitcoin (BTC) is signaling a third “local bottom” in 2024 as a leading BTC price metric sees room for growth.

Fresh research from onchain analytics platform CryptoQuant on Aug. 8 shows bullish moves from the network value to transaction golden cross (NVT-GC) tool.

Bitcoin has fielded warnings of another breakdown on BTC/USD this week as moving averages produce a so-called “death cross.”

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Author: William Suberg

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