Bitcoin Is About To See A Historically-Profitable Crossover In This Metric 📈

The Bitcoin Puell Multiple, an indicator that compares miner revenue against its yearly average, is nearing a crucial crossover with its 365-day moving average (MA). Historically, this event has been associated with significant price rallies for Bitcoin.

The Puell Multiple is currently on an upward trajectory, potentially arising from a recent BTC rally. This metric primarily considers rewards from block subsidies, which are affected during Halvings—events that halve the block subsidy every four years.

The trajectory of the Puell Multiple's recent rise back towards the 1 mark could signal a turnaround in miner revenue, aligning with the 365-day MA, indicating improved miner earnings as BTC's USD value increases.

Historically, whenever the Puell Multiple crossed its 365-day MA, Bitcoin experienced rallies exceeding 76%. However, there remains uncertainty if it will cross this line successfully this time, offering potential bullish signals for the cryptocurrency.

Bitcoin's recent price movement has seen a cooldown, showing a sideways trend. This indicates the need for caution to see if the crossover indeed leads to another significant bull run for BTC.