Bitcoin [BTC] managed to stay above $25,000 for a few days, which gave investors a reason to celebrate. As per CoinMarketCap, BTC was up by over 5% in the last 24 hours.
At the time of writing, it was trading at $25,999.75 with a market capitalization of over $502 billion. However, the celebration might be nearing an end as BTC might be subjected to yet another price correction.
Read Bitcoin’s [BTC] Price Prediction 2023-24 Onchain Edge, an author, and analyst at CryptoQuant, recently published an analysis that suggested the possibility of a price correction.
As per the post, BTC’s Network Value to Transaction (NVT) golden cross reached 8.49. This indicated a possible market top, which can result in increased selling pressure.Read more on ambcrypto.com