Bitcoin (BTC) price action may be “unsustainably high,” as one metric hits its highest levels in seven months.
Data from on-chain analytics firm Glassnode confirms that on Dec. 21, Bitcoin’s network value to transaction (NVT) signal reached levels not seen since April.
Bitcoin activity may not support $17,000 BTC price
Created by statistician Willy Woo, NVT essentially measures the ratio between on-chain activity and the price of Bitcoin.
NVT signal modifies its readings by using a 90-day…
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