Bitcoin Puell Multiple Flashes BTC Bull Run to Start Ahead in Q3

Quick Summary:

The Bitcoin (BTC) price has suffered huge selling pressure dropping all the way to $53,500 on Monday amid the massive sell-off by the German government as well as the Mt.

Historically, the Puell Multiple has fallen significantly during bull cycles, such as in 2016 and 2020, followed by strong rises in Bitcoin’s price.

Santiment further reports that the 30-day and 365-day Bitcoin MVRV indicators are both in negative territory.

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Article Details

Author / Journalist: Bhushan Akolkar

Category: Crypto

Markets: IndiaSingapore

Topics: 24/7 Cryptocurrency News Bitcoin price correction Bitcoin Miners Bitcoin Price Drop Bitcoin News Bitcoin miner capitulation Bitcoin (BTC) Price

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-09 @ 12:22:34 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 392 words

Reading Time: 3 minutes read

Sentences: 38 lines

Sentence Length: 11 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 21554245

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