One of the most reliable indicators I’ve found to identify market bottoms is the Puell Multiple for Bitcoin. Essentially, when this indicator enters the green zone, it may signal a market bottom. Simply put, the Puell Multiple is calculated by dividing the daily value of newly mined Bitcoin by its 365-day moving average. When the Bitcoin Puell Multiple is in the green zone, miners’ revenues are low → miners operate at a loss → selling pressure decreases. $BTC #Bitcoin
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