On-chain analysis suggests Bitcoin's bear market bottom is near, with the Puell Multiple indicating undervaluation and long-term holders (LTHs) accumulating at record levels. The Puell Multiple, which compares miner revenue to its annual average, has fallen into historical 'buy zones,' signaling potential capitulation. Simultaneously, LTH supply has reached an all-time high, indicating strong conviction from experienced investors. This confluence of metrics suggests a significant accumulation phase is underway, setting the stage for a potential market reversal. Investors should monitor these on-chain trends for confirmation of a bottom.
The convergence of the Puell Multiple in 'buy zones' and record long-term holder supply signals a robust accumulation phase for Bitcoin. This fundamental strength suggests that experienced capital is positioning for a market reversal, reducing future supply pressure.
The current market structure reveals a significant divergence between short-term price action and long-term holder conviction. This indicates a stealth accumulation phase by sophisticated investors, setting a strong base for future price appreciation.
Puell Multiple and record long-term holder supply suggest the Bitcoin bear market bottom is close. See what the data shows. The post Bitcoin Bear Market Bottom: What 2 Key On-Chain Signals Just Revealed appeared first on BeInCrypto.