Every day, the market is full of positive news, and the market is plummeting every day. I am really impressed by this market!
Analysis: On-chain indicators show that Bitcoin is close to a "favorable" buying level
On September 1, CryptoQuant analyst Grizzly wrote that historical data shows that the range between 0.6 and 0.8 of the Bitcoin Puell Multiple Index can be described as the "Decision Zone".
Analysis of trends over the past decade shows that when the index falls below the 0.6 threshold, it usually represents an ideal opportunity for the dollar cost averaging (DCA) strategy.
On the contrary, historically, breaking through the 0.8 level has been associated with bullish market behavior, often pushing Bitcoin prices to all-time highs. Currently, the Puell Multiple Index fluctuates between these two critical levels. If the historical pattern remains unchanged, the bearish scenario of the index falling below 0.6 may once again bring "favorable" buying opportunities to investors.
