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No, Bitcoin Price Is Not Overheated Yet, Bullish Data Emerge On-chain
The leading digital currency Bitcoin (BTC) has kept investors speculating since May 8, when it breached the $100,000 level. Many anticipated a bullish rally above its current all-time high (ATH) of $109,114, but this has yet to happen, leading some to believe that Bitcoin is overheated.
NVT golden cross signals market still in safe zone
However, per CryptoQuant insights, a Bitcoin on-chain metric, the Network Value to Transaction (NVT) has not signaled overheating yet.
According to CryptoQuant, Bitcoin NVT Golden Cross has reached 1.51 points, which is still some comfortable points away from the overheated zone of 2.2.
Notably, the NVT Golden Cross is a valuation tool that compares Bitcoin’s market capitalization to the network's transaction volume. This comparison aims to show whether the asset is overvalued or undervalued in the short term.
Although it does not have a 100% accuracy rate, a value above 2.2 has historically marked periods when BTC is tagged overheated. Due to speculation, the asset is experiencing a price increase faster than real network usage.
The current value of 1.51 highlighted by CryptoQuant suggests that although the metric is climbing and investors should pay attention, it does not constitute a red flag yet.
However, traders might want to monitor the development closely to avoid being caught unawares while making speculative guesses.
Bitcoin investor appetite on rise
The update appears necessary as Bitcoin has seen a spike in investor interest on the crypto market
As reported by U.Today, Bitcoin Open Interest recently hit $74 billion as the price rallied, triggering renewed confidence among traders betting on the futures market.
Meanwhile, institutional interest has also increased, with Bitcoin exchange-traded funds (ETFs) recording impressive inflows. According to data, a total of $329.02 million of inflows were recorded on May 20, 2025, on the Bitcoin ETF market.
According to CoinMarketCap data, the Bitcoin price has increased by 1.59% to $106,654.59 in the last 24 hours.