Based on BlockBeats, on November 27, 2025, analyst @ali_charts noted that since 2015, the Bitcoin Puell Multiple has marked the bottom of Bitcoin cycles. Historically, when the Puell Multiple drops below 0.50, Bitcoin prices hit a bottom. Currently, it stands at 0.67. The Puell Multiple, created by Glassnode, is calculated by dividing Bitcoin miners' daily revenue by its 365-day moving average.
Bitcoin Puell Multiple at 0.67, Historical Data Suggests Bottom Signal Below 0.5
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