In the world of Bitcoin investing, understanding market cycles is key to identifying buying opportunities and spotting potential price peaks. One indicator that has stood the test of time in this regard is the Puell Multiple. Originally created by David Puell, this metric examines Bitcoin’s valuation through the lens of miner revenue, offering insights into whether Bitcoin might be undervalued or overvalued compared to its historical norms.

This article will explain what the Puell Multiple is, how to interpret it, and what the current reading on the chart suggests for investors. For a real-time look at this tool, check out the Puell Multiple chart on Bitcoin Magazine Pro.

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