Analysis: Bitcoin Puell Multiple Currently at 0.67, Historically a Drop Below 0.5 Signals a Bottom

According to ChainCatcher, analyst @ali_charts stated that since 2015, the Puell Multiple has consistently marked the bottom of bitcoin cycles; when it falls below 0.5, the price of bitcoin bottoms out. It is currently at 0.67.

Note: The Puell Multiple was created by Glassnode and is calculated by dividing bitcoin's daily miner revenue by its 365-day moving average.