A Big Storm May Break Out in Bitcoin: The Calm Before the Storm Continues

Bitcoin prices experienced an increase in mining flows after the $53,000 support level. At current price levels, Bitcoin is being outflowed from miners' wallets, which could create potential selling pressure. A similar situation was seen on May 21.

Puell Multiplier and Bitcoin Prices

After the Bitcoin halving, there was a sharp decline in miner revenues. The lower the Puell Multiplier, the lower the Bitcoin prices, indicating a good buying opportunity. A Puell value of 0.5 will significantly reduce miner revenues and this could be considered a potential bottom zone.

Miner Profitability Index (MPI)

The Miner Profitability Index (MPI) is currently at a very low level with a slight increase from here. This situation adds some sales pressure to existing structures, but overall it does not create a significant sales pressure.

Miner Profit/Loss Sustainability

The first week of May saw extremely low fees on the network, nearly identical to the drop seen in the first week of July, followed by a recovery. This trend continues and we can say that there is fair pricing now.

There is some selling pressure but not large enough to significantly lower the market. Everything is currently normal for miners and there is no need for undue concern.

These analyzes focus on Bitcoin mining and market dynamics and highlight key indicators that investors should pay attention to. Metrics like Puell Multiplier and MPI can play an important role in identifying potential buying and selling opportunities. However, it is important to remember that the market is always uncertain and careful analysis is required.

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