Bitcoin Puell Multiple Retests Downtrend Line, Will It Break Above This Time?
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....
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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 […]
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 […]
A return to the peak of the 2017 bull market could signal “major macro highs” for Bitcoin, but this time, institutions are here, says analyst Philip Swift. Bitcoin (BTC) miners are selling less and less BTC, but if one metric is correct, they could soon start causing a major price correction.In an update on March 11, Philip Swift, creator of on-chain data resource LookIntoBitcoin, flagged familiar warning signs from the Puell Multiple.Developed by David Puell, the Puell Multiple tracks when miners are likely to start selling en masse in order to realize profits from participating in 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....