Bitcoin’s Puell Multiple has climbed to 0.96, up 0.2 from a week earlier, according to a report cited by ChainCatcher and attributed to South Korea’s Digital Asset. The move marks the indicator’s largest increase in roughly three months, the biggest rise since May this year.
The Puell Multiple measures Bitcoin miners’ daily issuance revenue against its 365-day moving average. It is commonly used to gauge miner income conditions and where the market may sit in its broader cycle. Even after the latest increase, the reading remains well below 4, a level that is typically regarded as an overheated zone.
The update points to an improvement in the indicator over the past week, while still placing it far from levels usually associated with market overheating.
Bitcoin’s Puell Multiple rose to 0.96, up 0.2 from a week earlier, according to South Korea’s Digital Asset as cited by ChainCatcher. The increase was the largest weekly gain in about three months and the biggest since May this year.
The indicator compares Bitcoin miners’ daily issuance revenue with its 365-day moving average. It is used to track miner income and gauge where the market stands in its cycle. Even at 0.96, the reading remains far below 4, a level commonly seen as overheated territory.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
