The Bitcoin (BTC) Network Value to Transaction (NVT) golden cross suggests that the cryptocurrency’s recent surge past $93,000 might not mark the peak of this cycle. BeInCrypto observed this after analyzing the current state of the metric.

At press time, BTC trades at  $90,893. Here is why this slight drawdown may not last: instead, Bitcoin’s price could rally well above its all-time high.

Data Shows that Bitcoin Remains Undervalued

Bitcoin’s NVT golden cross is a metric that helps spot tops and buttons during a cycle. When the NVT golden cross surpasses 2.2 points (red region), it indicates a short-term trend of price overheating, potentially signaling a local top. 

Conversely, a drop below -1.6 points (green area) suggests the price is cooling excessively, pointing to a possible local bottom. According to CryptoQuant, the metric’s reading is -3.25 as of this writing, suggesting that Bitcoin’s price still has room to appreciate.

For instance, when the metric was -2.60 in January, BTC traded below $42,000. About two months later, the coin went on to hit $73,000. Therefore, considering historical data and the current position of the metric, it is likely for BTC to climb toward $100,000 before the year closes. 

This outlook also aligns with that of Crypto Kaleo, an analyst. According to Kaleo, Bitcoin’s potential rise to $100,000 could bring back retail investors and possibly push the price higher. 

“I think Bitcoin surprises everyone when it crosses $100K, sends straight past it and doesn’t look back. It’s been such a mental milestone for so long that it’ll bring retail FOMO back in full force when it happens,” the pseudonymous analyst wrote on X.

Furthermore, Glassnode data shows that Bitcoin is currently trading above the realized price of Short-Term Holders (STH) and Long-Term Holders (LTH). The realized price represents the supply-weighted average price that market participants paid for their coins. It serves as an on-chain indicator of potential support or resistance levels.

Typically, when the realized price is above BTC, the cryptocurrency faces resistance. Hence, the price might find it challenging to climb. However, as seen above, the STH realized price is below BTC’s value at 69,793, indicating that the price could continue to rise.

BTC Price Prediction: Could $104,000 Be Next?

On the 3-day chart, Bitcoin has formed a bullish flag. A bull flag is a bullish chart pattern characterized by two rallies separated by a short consolidation phase. The flagpole forms during a sharp upward price spike as buyers overpower sellers. 

This is followed by a retracement phase, during which price movement creates parallel upper and lower trendlines, forming the flag shape. Considering the current outlook, Bitcoin’s price could rally toward $104,228 as long as buying pressure increases. 

However, if the Bitcoin NVT golden cross hits an extremely high value, that could mark a local top for BTC. In that case, the coin’s price could face a notable correction.

Cardano (ADA) rally may be poised to continue following its impressive 65% price surge over the past week. This outlook stems from its historical performance and anticipated investor behavior.

Currently trading at $0.72 — its highest level since March — ADA could see further gains. This on-chain analysis reveals why this might happen, even though some analysts have called for a significant correction. 

History Suggests Cardano Breakout May Be Just Beginning

One key indicator suggesting this outlook is the Market Value to Realized Value (MVRV) ratio. The MVRV is a metric that compares the market value of a crypto asset to its realized value. This ratio identifies potential market tops and bottoms and offers insights into investors’ behaviors.

Typically, the higher the MVRV ratio, the higher the profitability of holders and their willingness to sell. However, when the ratio decreases, it means unrealized gains have reduced, and investors might not be inclined to liquidate their assets.

For ADA, the 30-day MVRV ratio is -7.27%, indicating that if all Cardano holders sell, the average return on investment could be a loss. Historically, when the ratio is at this level, it means that ADA’s price could continue to climb.

As seen below, it took an MVRV ratio of 55.56% for ADA to experience a correction in March. Therefore, if history repeats itself, Cardano’s price might rise much higher than $0.72 in the short term.

Furthermore, Robinhood’s relisting of the cryptocurrency suggests that demand for ADA might surge — particularly from the US. If that is the case, then the prediction of a higher value could become reality.

Also, the Historical In/Out of the Money (HIOM) metric, which assesses the difference in profitable addresses to gauge market momentum, supports this outlook. A decline in the metric indicates that more holders are out of the money, often discouraging new investments.

However, in Cardano’s case, the percentage of addresses in profit has risen, potentially encouraging sidelined investors to buy ADA in the short term. If this buying pressure materializes, it could drive the cryptocurrency’s value even higher.

ADA Price Prediction: 500% Hike in View?

On the weekly chart, the Cardano rally appears to be mirroring a trend from 2020–2021, during which ADA soared by 3,653%. This previous surge was triggered by a bullish crossover of the 20-week Exponential Moving Average (EMA) above the 50-week EMA.

During that period, ADA climbed from $0.061 to $2.29. Currently, the 20 EMA (blue) has just crossed above the 50 EMA (yellow), signaling renewed bullish momentum for the token. While a similar percentage rally may be unlikely, ADA could still see a substantial gain of up to 500% over the coming months if past performances influence future trends.

If that happens, ADA could rise to $2.03. This could also be accelerated by the rise in Bitcoin’s (BTC) price, especially as Cardano seems to have a strong correlation with it. However, if selling pressure intensifies, this might not happen. Instead, ADA could drop to $0.33.

In a recent interview with Fox Business, Ripple CEO Brad Garlinghouse praised Trump’s potential impact on crypto. Specifically, he claimed that US assets like XRP have been surging since the election, and the future of friendly regulation holds massive investor potential.

Garlinghouse also stated that the US crypto industry has unlocked $800 billion in value gains and business opportunities.

Garlinghouse: Bullish on Trump

Ripple CEO Brad Garlinghouse recently appeared in an interview with Fox Business, discussing the crypto industry’s opportunities under a second Trump Presidency. When asked, Garlinghouse neither confirmed nor denied that he has met with Trump since the election, but he was extremely bullish about the planned pro-crypto regulatory push.

“What a difference ten days makes! We for years in the United States have had an attack on the crypto industry. It’s been war. The crypto industry embraced Trump, Trump has embraced the crypto industry… I think he’s very genuine. I’m very excited about what the future holds,” Garlinghouse claimed.

Liz Claman, the Fox anchor conducting the interview, mentioned XRP’s recent price jumps, which Garlinghouse used as a springboard. Specifically, he pointed out: “since Election Day, the best-performing cryptoassets are all US companies or US technologies.” This answer may or may not include Bitcoin, as many assume Satoshi to be American.

There are several more straightforward examples, however, which Garlinghouse discussed. Anticipating a regulatory shift, Robinhood listed several US assets like Ripple or Cardano, both of which saw huge gains. Additionally, Solana qualifies for this category, as Solana Labs was founded in San Francisco. It is unclear, however, where Ethereum fits into this picture.

Garlinghouse was quite clear in his assessment of these bullish developments: US markets anticipate a friendlier regulatory environment. He saluted 18 states’ recent lawsuit against the SEC with the phrase “welcome to the party,” and also mentioned excitement at Gary Gensler’s impending retirement. Together, these developments could potentially transform the entire industry.

All in all, Garlinghouse gave a straightforward and bullish argument for crypto under Trump, with a significant platform and easily digestible data. He claimed that the end of Gary Gensler’s “war on crypto” unlocked $800 billion in the US crypto industry through sheer price valuation and business opportunities alone.

“The US is finally unlocking this hostility. I’m surprised they didn’t do it sooner, but I’m glad they did it now,” Garlinghouse concluded.