Bitcoin Puell Multiple Lifts Off From Buy Zone, Bull Momentum To Follow?
On-chain data shows the Bitcoin puell multiple has started to leave the “buy” zone, a sign that the crypto may be heading towards bullish momentum. Bitcoin Puell Multiple Has Gone Up In Value During Recent Days As pointed out by an analyst in a CryptoQuant post, the BTC puell multiple is currently breaking out of the historic buy zone. The “puell multiple” is an indicator that measures the ratio between the daily miner revenues (in USD) and the 365-day moving average of the same. What this metric’s value tells is how much Bitcoin miners are currently making....
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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 […]
Data shows the price of Bitcoin has broken above the 0.55 Mayer Multiple level, below which the crypto has historically formed bottoms. Bitcoin Has Now Left The Zone Below 0.55 Mayer Multiple As per the latest weekly report from Glassnode, the BTC price has escaped above the Mayer Multiple bottom zone. The “Mayer Multiple” is an indicator that measures the ratio between the current Bitcoin price and the 200-day moving average of the same. A “moving average” (or MA in brief) is an analytical tool that takes the average of any quantity over a specified period, and as....
The Puell Multiple bounces from its latest rare trip into the "buy" zone, and previously, BTC/USD has subsequently put in a macro bottom. A classic Bitcoin (BTC) on-chain indicator has seen a “hell of a bounce” even as price action stays uncertain.In a tweet on July 9, Philip Swift, creator of analytics resource Look Into Bitcoin, highlighted a dramatic change of course for the Puell Multiple.Advancing Puell and hash rate "a good sign"A deceptively simple metric, Puell tracks miner behavior with a view to understanding Bitcoin market extremes. It has served extremely well as an indicator....
Bitcoin has historically profited from Puell Multiple lift-offs, but unique macro conditions mean what happens next is uncertain. Bitcoin (BTC) is enjoying what some are calling a "bear market rally" and has gained 20% in July, but price action is still confusing analysts.As the July monthly close approaches, the Puell Multiple has left its bottom zone, leading to hopes that the worst of the losses may be in the past.Puell Multiple attempts to cement breakoutThe Puell Multiple one of the best-known on-chain Bitcoin metrics. It measures the value of mined bitcoins on a given day compared to....
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....