Puell Multiple
Daily Bitcoin issuance value (in USD) divided by its 365-day moving average. Below 0.5 = miner capitulation · every major cycle bottom landed in this zone. Above 4.0 = miners are over-earning, top territory.
Daily Bitcoin issuance value (in USD) divided by its 365-day moving average. Below 0.5 = miner capitulation · every major cycle bottom landed in this zone. Above 4.0 = miners are over-earning, top territory.