Bitcoin\'s NVT ratio hits a 2.5-year low, signaling strong buying sentiment in the Market

Analyst van de Pop suggests end of Bitcoin's correction phase due to low NVT ratio. Reddit poll shows 55% of Mt. Gox creditors plan to hold Bitcoin

Bitcoin’s Network Value to Transactions Ratio (NVT) Hits 2.5-Year Low, Signaling Strong Buying PressureBitcoin’s Network Value to Transactions (NVT) ratio has reached historic lows not seen in the past 2.5 years, suggesting a shift in market dynamics with strong buying sentiment.

Analyst Michael van de Pop highlights the significance of this drop in the NVT ratio, which is used to gauge buying pressure relative to on-chain transaction volume. Notably, this drop surpasses declines observed during major events such as the Luna collapse or recent market corrections.

A negative NVT ratio indicates that the market is experiencing a period of low transaction activity in relation to network value. This can be interpreted as a period of strong buying sentiment, as investors are accumulating Bitcoin at a faster rate compared to the volume of on-chain transactions.

suggesting that the worst of the recent correction phase for Bitcoin may be ending. He urges investors to buckle up for potential market movements.

Mt. Gox Creditors to Hold Majority of Bitcoin as Compensation Payouts NearA recent poll conducted on the Reddit Mt. Gox forum has provided insights into the intentions of creditors once they receive their compensation.

The poll, which began on March 21st, aimed to gauge the plans of creditors regarding their Bitcoin holdings. As of press time, 467 members participated in the vote. Among them, the highest proportion (260 people) chose not to sell their bitcoins after receiving the compensation. This group of creditors expressed their preference to hold onto their Bitcoin for the long term.

Meanwhile, another group of creditors (88 people) indicated their decision to sell all of their Bitcoin to secure the maximum profit. This group represented around 18% of the participants in the poll.

suggesting that a majority of creditors are opting to retain their Bitcoin holdings rather than selling them in response to the compensation payouts.

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