According to TechFlow, the latest research by CryptoQuant analyst Grizzly shows that the Bitcoin Puell Multiple Index is currently in a critical decision range. The indicator fluctuates between 0.6 and 0.8, suggesting that Bitcoin may be close to a favorable buying level.
Grizzly noted that data from the past decade shows that when the S&P Multi-Index falls below 0.6, it usually represents an ideal time to implement a dollar cost averaging (DCA) strategy. Conversely, a break above 0.8 tends to be associated with a bull market, often driving Bitcoin prices to new all-time highs.
Currently, the index fluctuates between these two critical values. If the historical pattern repeats, a drop below 0.6 could again present a favorable buying opportunity for investors.
