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

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

After breaking out of the two-months ascending triangle, the price of (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.

BTC price bull run not overheated, investor activity shows

Bitcoin NVT Price. Source: Woobull.com

NVT premium says short-term top possible at $95K

Current NVT premium suggests more upside potential