## BTC Uptrend Outlook... Puell Multiple Falls Below 0.5 CryptoQuant contributor Darkfost analyzed that "the on-chain data BTC Puell Multiple, an indicator of miner profitability, has fallen below 0.5. It means that the miner revenue is very low, and a price increase usually followed when this zone is reached." The Puell Multiple is a metric that measures the profitability of Bitcoin miners by dividing the daily issuance value of Bitcoin by the 365-day moving average of the daily issuance value. When the Puell Multiple falls below 0.5, it indicates that miners are not making enough money to cover their costs, and they may be forced to sell their Bitcoin, which could lead to a price decrease. However, in the past, periods of low Puell Multiple values have often been followed by price increases. This is because when miners are forced to sell their Bitcoin, it creates a supply shock that can drive up the price. Of course, there is no guarantee that the Puell Multiple will lead to a price increase this time. However, it is a metric that is worth watching, as it can provide insights into the health of the Bitcoin mining industry and the potential direction of the price.