Bitcoin NUPL jumps above zeroAnother sign of a potential Bitcoin macro bottom comes from its net unrealized profit and loss (NUPL) indicator.
Source: CryptoQuantMining profitabilityThe third sign of Bitcoin forming a macro bottom comes from another on-chain indicator called the Puell Multiple.
Bitcoin Puell Multiple.
As a result, a higher Puell Multiple is known for coinciding with macro tops.
Conversely, a lower Puell Multiple reading means the miners’ current profitability is below the yearly average.
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