Bitcoin’s Puell Multiple indicator is suggesting that the cryptocurrency may be on the verge of reaching a new all-time high (ATH), according to analyst CryptoBullet. The Puell Multiple is a measure of miners’ profitability and their potential influence on Bitcoin’s price. When the Puell Multiple enters its “Green Zone,” it historically indicates that Bitcoin has bottomed out and is about to embark on a significant upward trend. CryptoBullet’s analysis shows that Bitcoin’s bear markets tend to end when the Puell Multiple hits the Green Zone, and from there, both Bitcoin’s price and the Puell Multiple rally upwards, often reaching new highs. Based on this pattern, CryptoBullet believes that Bitcoin is currently in the early stages of its next significant leg up, suggesting that a breakout to a new ATH could be imminent.
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Bitcoin’s Puell Multiple Signals A Bullish Surge: Could A New ATH Be Near?
