Investors' on-chain activity hints at Bitcoin price cycle top above $166,000

Cointelegraph

Published Apr 17, 2021 07:14AM ET

Updated Apr 18, 2021 09:20AM ET

After breaking out of the two-months ascending triangle, the price of Bitcoin (BTC) is firmly staying above $60,000. Current on-chain volume suggests investors are still strongly buying Bitcoin at current price levels.

Furthermore, the current price is not even close to a short-term price top when comparing to historic network valuation multiples.

h3 BTC price bull run not overheated, investor activity shows/h3
Bitcoin NVT Price. Source: Woobull.com
h3 NVT premium says short-term top possible at $95K /h3 h3 Current NVT premium suggests more upside potential/h3

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