Recent on-chain data indicates that the Bitcoin Puell Multiple has entered the “undervalued” region for the first time in over a year.<\/p>\n
A recent analysis in a CryptoQuant Quicktake post highlighted a drop in the BTC Puell Multiple. This indicator tracks the ratio between Bitcoin miners’ daily revenue and the 365-day moving average (MA).<\/p>\n
Miners earn income through block rewards and transaction fees, with the Puell Multiple only considering block rewards in miners’ revenue calculation.<\/p>\n
The Puell Multiple measures revenue in USD, connecting it to the cryptocurrency’s price, influencing the block rewards’ value.<\/p>\n
When the Puell Multiple is above 1, it suggests miners have earned above the yearly average, potentially indicating an overvalued asset. Conversely, a value below 1 implies miners are making less than usual, signifying undervaluation.<\/p>\n
The 7-day MA Bitcoin Puell Multiple trend graph shows previous high levels during a rally to a new all-time high, followed by a recent sharp decline while the cryptocurrency’s price consolidates sideways.<\/p>\n
The recent plunge in the indicator comes after the Halving event, reducing block rewards by half every four years, creating scarcity and potentially preparing for a market rally.<\/p>\n
Bitcoin is currently trading around $67,800, reflecting a 5% increase over the past week.<\/p>\n","protected":false},"excerpt":{"rendered":"
Recent on-chain data indicates that the Bitcoin Puell Multiple has entered the “undervalued” region for the first time in over a year. Bitcoin Puell Multiple Experiences Recent Decline A recent analysis in a CryptoQuant Quicktake post highlighted a drop in the BTC Puell Multiple. This indicator tracks the ratio between Bitcoin miners’ daily revenue and […]<\/p>\n","protected":false},"author":1,"featured_media":12323,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Bitcoin Faces Discounted Trading According to Puell Multiple Data - Bitrabo","description":"Recent on-chain data indicates that the Bitcoin Puell Multiple has entered the \"undervalued\" region for the first time in over a year. Bitcoin Puell Multiple Ex"},"footnotes":""},"categories":[316],"tags":[448,2264,3167,4337,786],"class_list":["post-12322","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-bitcoin","tag-discount","tag-multiple","tag-puell","tag-trading"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/12322","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=12322"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/12322\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/12323"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=12322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=12322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=12322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}