Analysis: The Bitcoin Puell multiple is currently at 0.67, historically dropping below 0.5 is a bottom signal
According to analyst @ali_charts, the Puell multiple has marked the bottom of the Bitcoin cycle since 2015, and when it falls below 0.5, the Bitcoin price hits the bottom. It is currently at 0.67.
Note: The Puell multiple was created by Glassnode and is calculated by dividing the daily miner revenue of Bitcoin by its 365-day moving average.
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