Bitcoin Rally Not Yet Euphoric? Puell Multiple Suggests More Upside
Despite a recent slump in Bitcoin (BTC) price driven by rising geopolitical tensions in the Middle East, overall market sentiment remains positive, with the leading cryptocurrency still trading in the mid-$100,000 range. Further, a key on-chain indicator suggests that the current BTC rally could still have more room to run. Bitcoin Puell Multiple Suggests More […]
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A fundamental Bitcoin signal, the Puell Multiple, suggests that it might be a great time to buy more based on past patterns. Puell Multiple Shows Bullish Signal? As pointed out by crypto analyst Lex Moskovski on Twitter, the puell multiple is down into the green zone again. The puell multiple is defined as the daily […]
The on-chain indicator Puell Multiple shows Bitcoin miners don’t have much incentive to sell at the current price level. Puell Multiple Values Are Still Relatively Low At The Current Level As pointed out by a CryptoQuant post, Puell Multiple values are still not too high, implying miners may not feel pressure to sell at the […]
Puell multiple is an indicator that has historically given hints about previous Bitcoin cycles, here’s what it says about the current bear market. Bitcoin Puell Multiple Has Been Going Up During The Last Couple Of Months According to the latest weekly report from Glassnode, miners are currently raking in just 63% of the revenues of last year. The “puell multiple” is a metric that measures the ratio between the current Bitcoin miner revenues, and the 365-day moving average of the same. What this indicator tell us is how the miner revenues right now compare with the average....
On-chain data shows the Bitcoin Puell Multiple has been going up recently after having formed a possible bottom. Here’s what history says could happen next for the crypto’s price. Bitcoin Puell Multiple 100MA Has Bounced Off A Potential Cycle Bottom As pointed out by an analyst in a CryptoQuant post, BTC miners seem to be […]
On-chain data shows the Bitcoin Puell Multiple is currently retesting the downtrend line, will the metric be able to break above it this time? Bitcoin Puell Multiple Has Gone Up A Bit During Recent Days As pointed out by an analyst in a CryptoQuant post, a trend reversal could be nearing in the BTC market. The “Puell Multiple” is an indicator that measures the ratio between the current daily Bitcoin mining revenues (in USD) and the 365-day moving average of the same. What this metric tells us is how much the BTC miners are making right now compared to the average during the....