{"id":646779,"date":"2024-10-08T03:00:10","date_gmt":"2024-10-08T03:00:10","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=646779"},"modified":"2024-10-07T16:07:23","modified_gmt":"2024-10-07T16:07:23","slug":"bitcoin-puell-multiple-signals-a-bullish-surge-could-a-new-ath-be-near","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/bitcoin-news\/bitcoin-puell-multiple-signals-a-bullish-surge-could-a-new-ath-be-near\/","title":{"rendered":"Bitcoin\u2019s Puell Multiple Signals A Bullish Surge: Could A New ATH Be Near?"},"content":{"rendered":"<p>While Bitcoin has been unable to break past the $70,000 price mark for over 2 months now, the asset has made efforts to remain above the $60,000 mark.<\/p>\n<p>Amid this maintenance above the $60,000 price level, analysts have continued to speculate on BTC&#8217;s future trajectory especially when the asset would make the play out of the <a href=\"https:\/\/www.ktsl888.com\/news\/bitcoin\/bitcoin-holds-steady-as-bullish-breakout-awaits-these-conditions-details\/\" target=\"_blank\" rel=\"noopener \">long-anticipated rally<\/a> to a major highs.<\/p>\n<p data-pm-slice=\"1 1 []\">One such analyst, CryptoBullet on X, has <a href=\"https:\/\/twitter.com\/CryptoBullet1\/status\/81868047?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">brought attention<\/a> to a particular indicator\u2014 the Puell Multiple\u2014 suggesting that Bitcoin may be on the cusp of<a href=\"https:\/\/www.ktsl888.com\/news\/bitcoin\/bitcoin-price-skyrocket-118000-by-year-end\/\" target=\"_blank\" rel=\"noopener \"> reaching a new all-time high (ATH)<\/a>.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.ktsl888.com\/news\/bitcoin\/bitcoin-price-skyrocket-118000-by-year-end\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Price Could Skyrocket To $118,000 By Year-End: Here\u2019s Why<\/a><\/div>\n<h2 data-pm-slice=\"1 1 []\">Understanding The Puell Multiple<\/h2>\n<p data-pm-slice=\"1 1 []\">According to CryptoBullet, the behavior of the Puell Multiple indicator often correlates with Bitcoin&#8217;s market cycles, potentially offering a clue into where the asset is headed next.<\/p>\n<p>The Puell Multiple, calculated by dividing the daily issuance of Bitcoin in USD by the 365-day moving average of the daily issuance, is used as a measure to understand the miners&#8217; profitability and their potential influence on Bitcoin\u2019s price.<\/p>\n<p>Historically, when the Puell Multiple entered its &#8220;Green Zone,&#8221; it indicated that Bitcoin may have reached a <a href=\"https:\/\/www.ktsl888.com\/bitcoin-news\/is-the-worst-over-for-bitcoin-analyst-suggests-local-bottom-may-be-here\/\" target=\"_blank\" rel=\"noopener \">market bottom<\/a>, which often preludes a significant upward trend. CryptoBullet points out that this phase of the cycle often sees Bitcoin bottoming out before starting its ascent toward a new ATH.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#BTC<\/a> Puell Multiple indicator<\/p>\n<p>\ud83d\udca1 This is why I think <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">$BTC<\/a> is not done yet and we\u2019ll get a new ATH soon<\/p>\n<p>According to this chart, <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#Bitcoin<\/a> Bear Markets end (<a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#BTC<\/a> finds the bottom) when Puell Multiple reaches the Green Zone<\/p>\n<p>Then Puell Multiple bounces as <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">$BTC<\/a> price prints the\u2026 <a href=\"https:\/\/t.co\/pL1ShFxcwE\" target=\"_blank\" rel=\"noopener nofollow\">pic.twitter.com\/pL1ShFxcwE<\/a><\/p>\n<p>\u2014 CryptoBullet (@CryptoBullet1) <a href=\"https:\/\/twitter.com\/CryptoBullet1\/status\/81868047?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">October 6, 2024<\/a><\/p><\/blockquote>\n<h2>Bitcoin Puell Multiple Hints At Potential New All-Time High<\/h2>\n<p data-pm-slice=\"1 1 []\">CryptoBullet\u2019s analysis shows how the Puell Multiple has behaved across <a href=\"https:\/\/www.ktsl888.com\/bitcoin-news\/heres-what-will-happen-if-bitcoin-respects-this-mvrv-ratio-support-level\/\" target=\"_blank\" rel=\"noopener \">different market cycles<\/a>. Specifically, he noted that Bitcoin&#8217;s bear markets tend to end when the Puell Multiple hits the Green Zone, when Bitcoin finds a bottom.<\/p>\n<figure style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/media\/GZNuwXfWkAAWwkK?format=jpg&amp;name=medium\" alt=\"Bitcoin Puell Multiple indicator.\" width=\"1200\" height=\"843\"><figcaption class=\"wp-caption-text\">Bitcoin Puell Multiple indicator. | Source: CryptoBullet<\/figcaption><\/figure>\n<p data-pm-slice=\"1 1 []\">Once this bottom is established, the Puell Multiple begins to bounce, indicating the first significant upward leg in Bitcoin\u2019s price movement. The significance of the Puell Multiple, according to CryptoBullet, lies in its pattern of &#8220;higher lows&#8221; and &#8220;higher highs.&#8221;<\/p>\n<p>After reaching the Green Zone, Bitcoin\u2019s price often experiences a <a href=\"https:\/\/www.ktsl888.com\/news\/bitcoin\/bitcoin-whales-bull-market\/\" target=\"_blank\" rel=\"noopener \">mid-term correction<\/a> that corresponds with the Puell Multiple creating a higher low. From this point, both the price of Bitcoin and the Puell Multiple tend to rally upwards, often reaching new highs.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.ktsl888.com\/bitcoin-news\/is-the-worst-over-for-bitcoin-analyst-suggests-local-bottom-may-be-here\/\" target=\"_blank\" rel=\"noopener \">Is The Worst Over For Bitcoin? Analyst Suggests Local Bottom May Be Here<\/a><\/div>\n<p>Currently, CryptoBullet believes that Bitcoin is in the early stages of its next significant leg up. The higher lows and a potential for higher highs in the Puell Multiple may signal that both Bitcoin\u2019s price and its market momentum are aligning for another rally.<\/p>\n<p>In the context of Bitcoin\u2019s current trajectory, this suggests that a potential breakout to a new ATH could be imminent.<\/p>\n<figure style=\"width: 2770px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/XeDtKeRm\/\" alt=\"Bitcoin (BTC) price chart on TradingView\" width=\"2770\" height=\"1556\"><figcaption class=\"wp-caption-text\">BTC price is moving upwards on the 2-hour chart. Source: BTC\/USDT on <a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=OANDA%3AXAUUSD\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<p>Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"<p>While Bitcoin has been unable to break past the $70,000 price mark for over 2 months now, the asset has made efforts to remain above the $60,000 mark. Amid this maintenance above the $60,000 price level, analysts have continued to speculate on BTC&#8217;s future trajectory especially when the asset would make the play out of the long-anticipated rally to a major highs. One such analyst, CryptoBullet on X, has brought attention to a particular indicator\u2014 the Puell Multiple\u2014 suggesting that Bitcoin may be on the cusp of reaching a new all-time high (ATH). Related Reading: Bitcoin Price Could Skyrocket To $118,000 By Year-End: Here\u2019s Why Understanding The Puell Multiple According to CryptoBullet, the behavior of the Puell Multiple indicator often correlates with Bitcoin&#8217;s market cycles, potentially offering a clue into where the asset is headed next. The Puell Multiple, calculated by dividing the daily issuance of Bitcoin in USD by the 365-day moving average of the daily issuance, is used as a measure to understand the miners&#8217; profitability and their potential influence on Bitcoin\u2019s price. Historically, when the Puell Multiple entered its &#8220;Green Zone,&#8221; it indicated that Bitcoin may have reached a market bottom, which often preludes a significant upward trend. CryptoBullet points out that this phase of the cycle often sees Bitcoin bottoming out before starting its ascent toward a new ATH. #BTC Puell Multiple indicator \ud83d\udca1 This is why I think $BTC is not done yet and we\u2019ll get a new ATH soon According to this chart, #Bitcoin Bear Markets end (#BTC finds the bottom) when Puell Multiple reaches the Green Zone Then Puell Multiple bounces as $BTC price prints the\u2026 pic.twitter.com\/pL1ShFxcwE \u2014 CryptoBullet (@CryptoBullet1) October 6, 2024 Bitcoin Puell Multiple Hints At Potential New All-Time High CryptoBullet\u2019s analysis shows how the Puell Multiple has behaved across different market cycles. Specifically, he noted that Bitcoin&#8217;s bear markets tend to end when the Puell Multiple hits the Green Zone, when Bitcoin finds a bottom. Once this bottom is established, the Puell Multiple begins to bounce, indicating the first significant upward leg in Bitcoin\u2019s price movement. The significance of the Puell Multiple, according to CryptoBullet, lies in its pattern of &#8220;higher lows&#8221; and &#8220;higher highs.&#8221; After reaching the Green Zone, Bitcoin\u2019s price often experiences a mid-term correction that corresponds with the Puell Multiple creating a higher low. From this point, both the price of Bitcoin and the Puell Multiple tend to rally upwards, often reaching new highs. Related Reading: Is The Worst Over For Bitcoin? Analyst Suggests Local Bottom May Be Here Currently, CryptoBullet believes that Bitcoin is in the early stages of its next significant leg up. The higher lows and a potential for higher highs in the Puell Multiple may signal that both Bitcoin\u2019s price and its market momentum are aligning for another rally. In the context of Bitcoin\u2019s current trajectory, this suggests that a potential breakout to a new ATH could be imminent. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":646788,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,441,629,6848,86446,1119,78790,6664,10923],"class_list":["post-646779","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-analysis","tag-bitcoin-market","tag-bitcoin-price-prediction","tag-bitcoin-puell-multiple","tag-btc","tag-btcusdt","tag-crypto","tag-crypto-market"],"acf":[],"yoast_head":"\n<title>Bitcoin Puell Multiple Signals A Bullish Surge: Could A New ATH Be Near?<\/title>\n<meta name=\"description\" content=\"While Bitcoin has been unable to break past the $70,000 price mark for over 2 months now, the asset has however made efforts to remain...\" 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These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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