![The Marketing Executive's Playbook: How Marketers Can Work & Level-Up Like 700+ Leaders in 2025 [New Data]](https://www.hubspot.com/hubfs/marketing-executive-1-20250106-3440943.webp)
![How to Understand & Calculate Statistical Significance [+ Example]](https://www.hubspot.com/hubfs/how-to-calculate-statistical-significance-1-20250106-7754856.webp)
.png)
Why Bitcoin (BTC) Price Could Hit $66,000 Again
The post Why Bitcoin (BTC) Price Could Hit $66,000 Again appeared on BitcoinEthereumNews.com. Bitcoin’s (BTC) price is likely to reach $66,000 within a week or two, according to on-chain data. Based on the metrics analyzed, the coin, which recently went through a tough period, is flashing bullish signs. As of this writing, BTC trades at $63,903 after initially closing in on $65,000. However, the recent pullback might not be able to stop the potential move. Fresh Liquidity Continues to Flow into Bitcoin An evaluation of Glassnode data shows that Bitcoin’s 14-day Market-Realized Gradient stands at 1.17. This gradient employs the price at which each coin last moved to determine the length of an expected uptrend or downtrend. Steep decreases in the 14-day Market-Realized Gradient indicate a drop in fresh capital flowing into the cryptocurrency. When this happens, BTC tends to undergo a price decline. However, at press time, the increase implies that Bitcoin has attracted substantial capital, which could drive notable value growth. From the chart above, Bitcoin’s price hit $66,805 the last time the gradient was in a similar region. Therefore, if the pattern rhymes, the cryptocurrency’s value might hit or surpass $66,000 within the next two weeks. Read more: What Is a Bitcoin ETF? Bitcoin 14-Day Market-Realized Gradient. Source: Glassnode Furthermore, the Network Value to Transaction (NVT) Golden Cross appears to back a similar bias. For context, this metric measures if the value of a crypto is close to its bottom or near its top. When the reading is under -1.6, the price is at its bottom, and upward pressure could be intense. However, values over 2.2 indicate that the crypto is overbought and could undergo a major correction. In Bitcoin’s case, the NVT Golden Cross is 0.71, indicating that the coin has bounced off the top but is in a prime buying zone. Therefore, if the increase continues, so will BTC’s…
The post Why Bitcoin (BTC) Price Could Hit $66,000 Again appeared on BitcoinEthereumNews.com.
Bitcoin’s (BTC) price is likely to reach $66,000 within a week or two, according to on-chain data. Based on the metrics analyzed, the coin, which recently went through a tough period, is flashing bullish signs. As of this writing, BTC trades at $63,903 after initially closing in on $65,000. However, the recent pullback might not be able to stop the potential move. Fresh Liquidity Continues to Flow into Bitcoin An evaluation of Glassnode data shows that Bitcoin’s 14-day Market-Realized Gradient stands at 1.17. This gradient employs the price at which each coin last moved to determine the length of an expected uptrend or downtrend. Steep decreases in the 14-day Market-Realized Gradient indicate a drop in fresh capital flowing into the cryptocurrency. When this happens, BTC tends to undergo a price decline. However, at press time, the increase implies that Bitcoin has attracted substantial capital, which could drive notable value growth. From the chart above, Bitcoin’s price hit $66,805 the last time the gradient was in a similar region. Therefore, if the pattern rhymes, the cryptocurrency’s value might hit or surpass $66,000 within the next two weeks. Read more: What Is a Bitcoin ETF? Bitcoin 14-Day Market-Realized Gradient. Source: Glassnode Furthermore, the Network Value to Transaction (NVT) Golden Cross appears to back a similar bias. For context, this metric measures if the value of a crypto is close to its bottom or near its top. When the reading is under -1.6, the price is at its bottom, and upward pressure could be intense. However, values over 2.2 indicate that the crypto is overbought and could undergo a major correction. In Bitcoin’s case, the NVT Golden Cross is 0.71, indicating that the coin has bounced off the top but is in a prime buying zone. Therefore, if the increase continues, so will BTC’s…
What's Your Reaction?
