Key Bitcoin Indicator 'PUEL Multiple' Points to Best Buying Opportunity in Two Years

A popular Bitcoin indicator used to gauge miner selling activity is approaching levels that could signal a promising buying opportunity, according to a cryptocurrency analyst.
Grizzly, a contributor to CryptoQuant, wrote in an analysis note on the 31st of last month, “Puell Multiple
"The Multiple Index is fluctuating at two important levels," he said, "If the historical pattern holds, a drop below 0.6 could again favor investors."
"This creates a good opportunity for acquisitions," he said. Grizzly described the range of 0.6 to 0.8 in the PU multiple index as the "decision zone."
He believes that based on historical data since 2014, a drop in the index below 0.6 would be an ideal opportunity for a Bitcoin dollar-cost averaging (DCA) strategy.
Traders typically use the Puer multiple to gauge the health of miners' earnings. For example, a high Puer multiple indicates low selling pressure, while a low
A low PU multiple could indicate high selling pressure. According to data from Bitbo, the PU multiple was recorded at 0.69 as of the 1st.
The Puerto Rico multiple on March 13, when the dollar hit an all-time high of $73,679 (approximately JPY 10.76 million), was 1.88.
Anonymous cryptocurrency analyst Moustache has reported that 133,100 people have signed up with X (formerly
"The PUEL Multiple represents the best buying opportunity in 2 years," he told followers on Twitter, adding, "Best opportunity to re-accumulate for a second time in 2022 and beyond."