比特币网络对交易（NVT）金十字的价值可能表明资产尚未过热

交易的比特币网络价值（NVT）黄金十字可能表明，尽管资产的价格尚未过热，尽管其价格向新的历史最高（ATH）提出。

This news article from CryptoQuant highlights an interesting on-chain indicator: the Bitcoin Network Value to Transactions (NVT) Golden Cross. The article claims that this indicator could indicate that the asset isn't overheated yet, despite its price marching to a new all-time high (ATH).

CryptoQuant的这篇新闻重点介绍了一个有趣的链上指标：交易的比特币网络价值（NVT）Golden Cross。文章声称，该指标可能表明该资产的价格尚未过热，尽管其价格向新的历史高（ATH）提出。

The article explains that the NVT Ratio is an on-chain indicator that keeps track of the ratio between the BTC market cap and transaction volume. It adds that if the utility of the network (measured in terms of the transfer volume) is considered as a reflection of its ‘true’ value, then this ratio can be used for judging whether the price is undervalued or overvalued.

文章解释说，NVT比率是一个链指标，可以跟踪BTC市值和交易量之间的比率。它补充说，如果网络的效用（根据传输量来衡量）被认为是其“真实”价值的反映，则该比率可用于判断价格是否被低估还是被高估。

When the value of the indicator is high, it means the value of the network (that is, the market cap) is high compared to its ability to transact coins. Such a trend may be a sign that the asset is becoming overpriced. On the other hand, the indicator being low could imply room for growth in the cryptocurrency’s market cap, as its value is low when compared to the transaction volume.

当指标的值较高时，这意味着与交易硬币的能力相比，网络的价值（即市场上限）很高。这种趋势可能表明资产价格过高。另一方面，指标较低可能意味着加密货币的市值增长的空间，因为与交易量相比，其价值很低。

In the context of the current topic, a derivative form of the NVT Ratio is the indicator of interest. This metric, known as the NVT Golden Cross, is a signaling indicator for the NVT Ratio similar to the Bollinger Bands, telling us about whether the ratio’s value is near a top or bottom.

在当前主题的背景下，NVT比率的衍生形式是感兴趣的指标。该指标被称为NVT Golden Cross，是与Bollinger频段相似的NVT比率的信号指标，告诉我们该比率的值是接近顶部还是底部。

The NVT Golden Cross compares two moving averages (MAs) of the NVT Ratio in order to determine this: the 10-day MA to gauge the short-term trend and the 30-day MA for the long-term one.

NVT Golden Cross比较了NVT比的两个移动平均值（MAS），以确定这一点：10天MA以评估短期趋势和长期的30天MA。

Now, here is a chart that shows the trend in the Bitcoin NVT Golden Cross over the last few months:

现在，这是一个图表，显示了过去几个月比特币NVT金十字的趋势：

As displayed in the above graph, the Bitcoin NVT Golden Cross has recently been on the rise as the cryptocurrency’s price has rallied to a new ATH. At present, the indicator is sitting at a value of 1.5.

如上图所示，比特币NVT金十字杂志最近在加密货币的价格上涨，这已经上升了。目前，指示器的值为1.5。

In the chart, the quant has highlighted two zones for the metric that have been of significance in the past. The region beyond 2.2 (shaded in red) corresponds to the territory where tops generally occur for BTC and that under -1.6 (green) to the bottoming zone.

在图表中，量子量强调了过去的两个区域，这些区域过去曾经是显着性的。 2.2以上的区域（红色为红色）对应于BTC通常出现顶部的区域，而在-1.6（绿色）到底部的区域。

Clearly, despite the recent uptrend, the NVT Golden Cross hasn't yet broken into the red zone, a potential sign that the cryptocurrency may still not be too overpriced. Naturally, this could allow room for the run to continue further.

显然，尽管最近的上升趋势，但NVT Golden Cross尚未闯入红色区域，这是潜在的信号，即加密货币可能仍然不会太高。自然，这可以使跑步的空间继续进一步。

BTC Price

BTC价格

Bitcoin set a new record earlier today as its price went to $109,400, surpassing the previous ATH around $109,200.

比特币在今天早些时候创下了新的记录，因为其价格达到109,400美元，超过了109,200美元的ATH。