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    NYDIG study calculates the value of regulation worldwide in terms of BTC price gains

    NYDIG study calculates the value of regulation worldwide in terms of BTC price gains

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  • Home
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  • NFT’s
    NFT Marketplace OpenSea Flags Data Breach, Here’s What Was Leaked

    NFT Marketplace OpenSea Flags Data Breach, Here’s What Was Leaked

    APE avoids broader market weakness

    Here’s Why Apecoin (APE) Price Is Skyrocketing Today

    ETH Whales Add Over $24 Million Worth Of Sandbox (SAND) Token

    The Sandbox Token (SAND) Eyes $1 On This Bullish Signal

    Uniswap Labs Acquires NFT Startup Genie

    Uniswap Labs Acquires NFT Startup Genie

    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    NFT Collection Doodles Sees 400% Spike In Volumes On This

    NFT Collection Doodles Sees 400% Spike In Volumes On This

    MoonPay Launches NFT Platform In Universal Studios, Fox Partnership

    MoonPay Launches NFT Platform In Universal Studios, Fox Partnership

    Economic Fail Or Key To A Creative Future?

    Economic Fail Or Key To A Creative Future?

  • Metaverse
    Demystifying Metaverse Competition - NFT News Today

    Demystifying Metaverse Competition

    The Go-To Marketplace For All Things Metaverse

    The Go-To Marketplace For All Things Metaverse

    As Otherside Land Value Drops, Yuga Labs Face Giant Tax Obligation

    As Otherside Land Value Drops, Yuga Labs Face Giant Tax Obligation

    The Web 3 LAND Sale

    The Web 3 LAND Sale

    Disney Metaverse

    Disney Hires Former Apple Executive to Head Metaverse Creative Strategy

    CyberKongZ and The Sandbox Team Up For VoxEdit Contest

    CyberKongZ and The Sandbox Team Up For VoxEdit Contest

    Man wearing smart glasses touching a virtual screen to access the metaverse

    How The Metaverse Can Change Mental Health For The Better

    Jamiroquai Partners With The Sandbox To Bring Funk To The Metaverse

    Jamiroquai Partners With The Sandbox To Bring Funk To The Metaverse

    3iQ Corp Opens a Virtual HQ in the Voxels Metaverse

    3iQ Corp Opens a Virtual HQ in the Voxels Metaverse

  • Analysis
    Ethereum

    Ethereum Key Indicators Suggest A Sharp Drop Below $1K

    Bitcoin bear

    Why Bitcoin Must Break $22,500

    Bitcoin

    Bitcoin Turns Red, Why BTC Could Trade To New Monthly Lows

    Ethereum

    Ethereum Topside Bias Vulnerable If It Continues To Struggle Below $1.2K

    Ethereum

    Ethereum Plugs 11-Week Bleed, why $1,500 May Be On The Horizon

    Bitcoin

    Bitcoin Dips Further, Why BTC Could Revisit $20K

    Ethereum

    Ethereum Turns Red, Why ETH Must Hold This Key Support

    bitcoin bollinger bands

    Bitcoin Monthly Tags Lower Bollinger Band, Tool’s Creator Hints At Bottom

    Bitcoin

    Bitcoin Dips Could Be Limited, Why 100 SMA Is The Key

  • Learn About Crypto
    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    Top 10 Blockchain and Crypto Events in July

    Crypto Chart Patterns for Trading

    Crypto Chart Patterns for Trading

    Overbought vs. Oversold Signals

    Overbought vs. Oversold Signals

    What Is a Decentralized Exchange (DEX)?

    What Is a Decentralized Exchange (DEX)?

    What Is Ethereum 2.0 (The Merge)?

    What Is Ethereum 2.0 (The Merge)?

    Breaking: ExxonMobil is Mining Bitcoin With Natural gas

    Iran Cuts Power Supply To Crypto Mines;

    What Is Crypto Lending

    What Is Crypto Lending

    How to Survive a (Crypto) Bear Market

    How to Survive a (Crypto) Bear Market

    Top 6 Crypto Events for June 2022 – Coingape

  • Regulation
    Russian central bank exec is OK with crypto mining under one condition

    Russian central bank exec is OK with crypto mining under one condition

    OpenSea data breach causes massive leak of users’ email addresses

    OpenSea data breach causes massive leak of users’ email addresses

    First Spot Bitcoin ETF approved to launch in Europe in July

    First Spot Bitcoin ETF approved to launch in Europe in July

    E.U. moves further in its crypto regulation

    E.U. moves further in its crypto regulation

    BREAKING: Grayscale launches legal challenge to Bitcoin spot ETF rejection

    BREAKING: Grayscale launches legal challenge to Bitcoin spot ETF rejection

    EU officials reach agreement on AML authority for supervising crypto firms

    EU officials reach agreement on AML authority for supervising crypto firms

    IRS Forced To Delay Crypto Tax Collection As Industry Struggles With New Rules: Report

    IRS Forced To Delay Crypto Tax Collection As Industry Struggles With New Rules: Report

    US govt delays enforcement of crypto broker reporting requirements: Report

    US govt delays enforcement of crypto broker reporting requirements: Report

    NYDIG study calculates the value of regulation worldwide in terms of BTC price gains

    NYDIG study calculates the value of regulation worldwide in terms of BTC price gains

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Home Bitcoin News

Key Metrics Show Surprising Insights

May 21, 2022
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While Bitcoin continues to struggle to exceed the $30,000 range, latest figures on key Bitcoin price metrics indicate a more bearish sentiment. Last week’s drastic meltdown of Terra ecosystem had a direct impact on Bitcoin price, which slid by at least 20% since then.

As of writing, Bitcoin was trading at $29,432, down 2.75% in the last 24 hours, according to CoinMarketCap. Over the last week, the top crypto asset’s price remained largely flat, fluctuating around the $29,000 mark.

Bearish Bitcoin Price Metrics

According to a chart shared by Glassnode, Bitcoin’s NVT Signal reached a four-year low of 235.252. This is lower than the July 2018 levels around the 250 mark.

“Bitcoin’s NVT Signal for seven-day moving average just reached a 4-year low of 235.252.”

The Network Value to Transaction (NVT) Signal is a key metric for gauging investor sentiments around active trading scenario. Registering four-year lows of this key metric could mean that bearish trend appears to be worser than it seems.

Moving average of the daily transaction volume is used for calculating the signal, instead of the raw daily transaction volume. Hence, the moving average numbers improve the ratio to reflect a clear indication of the market sentiment.

Bitcoin Death Cross

Indicating a similar trend is the recent occurrence of the ‘death cross’, which occurred earlier this year in January. The death cross is an extreme bearish indicator which historically suggests Bitcoin price always plummeted after it occurs.

Since its January levels, Bitcoin price declined by around 40%. Rekt Capital, a crypto analyst, said,

“History suggests that whenever a death cross occurs, Bitcoin experiences deeper downside. Now that one has occurred, what could we potentially expect?”

The analyst indicated that the Bitcoin bottom is not yet in. “Bitcoin has crashed -55%, -65%, and -71% after a death cross in the past. If history were to repeat itself with a -55% crash, Bitcoin would bottom at around $18000.”

Top cryptocurrencies including Bitcoin and Ethereum are down nearly 60% from all-time highs. Also, several altcoins have slumped by around 80%.

Anvesh is keen on writing about major announcements around crypto adoption by institutions and popular personalities. Having been associated with the cryptocurrency industry since 2016, his interest in this space helped pivot his journalism career to the blockchain ecosystem. Follow him on Twitter at @AnveshReddyEth and reach out to him at anvesh (at) coingape.com

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.



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