The Bitcoin Puell Multiple, which measures the ratio between daily revenue of Bitcoin miners and the 365-day average value of the same, has reached high levels recently. This metric tries to determine whether the current price of the cryptocurrency is fair or not by comparing the current revenue of miners against the yearly average. When the Puell Multiple has a value above 1, it means miners are making higher revenues than the average for the past year, which may indicate that the asset is overpriced. The current levels of the metric suggest that the price has become overheated recently, which may mean that a top is close.
All Comments