CryptoQuant Analyst: Bitcoin Puell Multiple Fluctuating Between 0.6 and 0.8, May Be Approaching Favorable Buy Levels

CryptoQuant analyst Grizzly's latest research shows that the Bitcoin Puell Multiple is currently in a key decision zone. The indicator is fluctuating between 0.6 and 0.8, suggesting that Bitcoin may be approaching favorable buying levels.

Grizzly noted that data over the past decade has shown that when the Puell Multiple falls below 0.6, it usually represents an ideal time to implement a dollar-cost averaging (DCA) strategy. Conversely, index breaks above 0.8 tend to be associated with bullish markets, often driving the price of bitcoin to new all-time highs.

Currently, the index is fluctuating between these two thresholds. If the historical pattern repeats itself, a dip below 0.6 could once again present investors with a favorable buying opportunity.