The Puell Multiple tracks miner profitability relative to its yearly average. ⛏️ When miners become extremely profitable: ↳ Selling pressure increases ↳ Market tops often form When miners are barely profitable: ↳ Weak miners capitulate ↳ Selling gets exhausted ↳ Market bottoms often form ⚡ Miners are forced sellers. That’s why their behavior reveals macro turning points in Bitcoin cycles. 🧠 Historically, Puell Multiple extremes have aligned with every major BTC top and bottom. 📊 #Bitcoin
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