Onchain V/T Ratio: Bitcoin is still overvalued
Bitcoin / TetherUS BINANCE:BTCUSDT
V/T ratio is a new Onchain metric that I published recently in Tradingview. To check this Onchain Metric Please check the link below:
this indicator is based on THE TOTAL VOLUME OF BITCOIN TRANSFERRED ONCHAIN IN USD and THE TOTAL AMOUNT OF TRANSACTIONS. I have explained the phases of the market based on this metric in the link above.
When it is high, it means that the ratio of trading volume to USD per transaction is high, and vice versa.
It is a good Metric to determine the Overvalue and undervalue read of BTC
Based on this metric, It seems Bitcoin is still overvalued.
