Bitcoin Puell Multiple cho thấy áp lực của thợ khai thác, nhà phân tích chỉ ra mức $59K có thể là đáy chu kỳ

The Huoxing Finance report states that on June 21, crypto analyst Lark Davis noted that the current reading of Bitcoin’s Puell Multiple indicates the market is nearing or has already entered the bottom region of this cycle. The indicator measures miner profitability by tracking the ratio of daily miner revenue to its 365-day average; historically, prolonged periods of low miner income—forcing miners to sell BTC to cover operational costs—have coincided with cycle lows. Davis stated that although the indicator has not yet reached the green oversold zone, signs of miner stress have emerged, which historically often signals the beginning of the end of a bear market. He also pointed out that price signals in this cycle have been generally milder compared to historical patterns. Davis believes whether $59,000 can hold as the cycle low will become clear over the coming months, but current indications are becoming increasingly evident.