Bitcoin slips as Fed resumes rate cuts, but Outlook stays neutral
Bitcoin prices edged lower Friday morning after the Federal Reserve cut interest rates by 0.25% on Wednesday. The move initially pressured BTC as Chair Jerome Powell signaled a slower pace of easing than markets had expected. However, the crypto later rebounded as investors noted that further rate cuts remain on the table — generally supportive for risk assets. Still, Bitcoin’s upside was modest compared with stronger gains in some altcoins.
In terms of fundamentals, Bitcoin remains far from overheated. The Network Value to Transactions Golden Cross (NVT-GC), a key on-chain metric comparing market cap to transaction value, is currently in “neutral” territory.
Historically, negative NVT-GC readings — especially below -1.6 — have preceded bullish moves, while values above 2.2 often signal reversals. The last major long signal appeared in July, when NVT-GC hit -2.8 before rebounding to 0.3.
