Puell Multiple Enters “Green Zone,” Indicating Potential Bitcoin Upswing 📈

The Puell Multiple, an indicator of bitcoin mining profitability calculated as the ratio of daily bitcoin issuance to its 365-day moving average, has re-entered the 'green zone' according to CryptoQuant.

The current value is approximately 0.6, below the historical norm. This low value indicates miners' current revenue is below the yearly average.

Historically, such a situation has often preceded significant increases in bitcoin's price, signaling a potential bullish market reversal.

Experts believe this metric could attract new investors, boosting confidence and potentially leading to a price increase in the medium term.