The Puell Multiple suggests that Bitcoin could rise by around 90% if past trends repeat themselves. ๐Ÿ“ˆ This indicator looks at periods of high or low Bitcoin issuance compared to historical norms, which could influence market entry and exit strategies. ๐Ÿค‘

According to analysts at CryptoQuant, Bitcoinโ€™s Puell Multiple is approaching a breakout above its 365-day simple moving average (SMA), which typically signals the start of a significant price rally. ๐Ÿš€ Historical data shows that Bitcoin rose 83% after a similar crossover on March 30, 2019, followed by a 113% increase after January 8, 2020, and a 76% increase after January 9, 2024. ๐Ÿ“Š

The Puell Multiple calculates the ratio between the daily value of newly issued Bitcoin and its 365-day moving average, providing insight into mining economics and market cycles. ๐Ÿ’ก Miners, often considered forced sellers due to operating costs, can significantly influence market prices through their revenue patterns. ๐Ÿ’ธ

By identifying periods when Bitcoinโ€™s daily issuance rate deviates from historical norms, this indicator signals potential strategic entry and exit points for investors. ๐Ÿ” History shows that when this metric crosses above its 365-day SMA, it is often followed by a major price rally, and the current breakout could signal a surge of up to 90%. ๐ŸŒŸ

Market observers note that the current pattern coincides with expectations of changes in monetary policy, including a possible interest rate cut and changes in market liquidity conditions. ๐Ÿ’ฐ With Bitcoin holding steady in a tight range between $88K and $93K, a breakout of the Puell Multiple could signal the next major price move. โšก$BTC

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