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Analysis: The Bitcoin Puell multiple is currently at 0.67. Historically, falling below 0.5 has been a bottom signal.
On November 27, according to analyst @ali_charts, the Puell multiple has marked the bottom of the Bitcoin cycle since 2015, and when it falls below 0.50, the Bitcoin price hits bottom. It is currently at 0.67. Note: The Puell multiple is created by Glassnode and is calculated by dividing Bitcoin's daily miner revenue by its 365-day moving average.