Traders’ on-chain exercise hints at Bitcoin worth cycle high above $166,000

After breaking out of the two-months ascending triangle, the value of (BTC) is firmly staying above $60,000. Present on-chain quantity suggests buyers are nonetheless strongly shopping for Bitcoin at present worth ranges.

Moreover, the present worth is just not even near a short-term worth high when evaluating to historic community valuation multiples.

BTC worth bull run not overheated, investor exercise exhibits

Bitcoin NVT Value. Supply: Woobull.com

NVT premium says short-term high attainable at $95K

Present NVT premium suggests extra upside potential