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Bitcoin: With Puell Multiple above capitulation, will miners halt selling?

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Miners might revert to a revenue increase as the Puell Multiple left the capitulation area. Market statistics showed that the current condition was not overheated. Bitcoin [BTC] holders were not the only recipients of welcome developments recently. Like the holders, miners who have struggled with inhospitable conditions may also have cause to celebrate in the […]

Furthermore, Glassnode data showed that the metric was close to overthrowing the erstwhile defeat. At press time, the Puell Multiple was 0.996. This was considered an impressive rally considering that a lower value indicates a revenue shred.

On the other hand, the current state of approximately one suggests an increase in miner revenue. Hence, this could be vital to reducing the selling pressure from miners, which they had used to cover up for the hawkish market condition.was edging toward the uptrend. This metric shows how much validators of the network have made. And this includes newly minted coins. At the time of writing, the revenue was 976.80 BTC.

 

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