Bitcoin

<ul><li>Bitcoin&#39;s price tends to peak when the Puell Multiple exceeds 10, signaling potential overvaluation.</li><li>Major support levels for Bitcoin are around $1,000 and $10,000, indicating strong buying interest at these points.</li><li>Current bullish momentum is suggested by a 1-day RSI of 62.10 and MACD trading above the signal line.</li></ul><a href="https://cryptotale.org/bitcoin-could-reach-90k-as-analysts-see-breakout-potential/" rel="noopener noreferrer nofollow">Bitcoin’s </a>price trend tends to peak during cycles when the Puell Multiple hits the red zone as highlighted by <a href="https://x.com/DaanCrypto/status/1798248891550187699" rel="noopener noreferrer nofollow">Daan Crypto Trades</a>, a top analyst. The Puell Multiple, a crucial metric, measures the ratio of daily coin issuance (in USD) to the 365-day moving average of daily coin issuance. This indicator is essential for understanding Bitcoin&#39;s value cycles and identifying periods of overvaluation or undervaluation relative to historical norms.Bitcoin&#39;s price history reveals a pattern of significant peaks and troughs. The white line on the chart indicates the price movement, showing cyclical trends that align with fluctuations in the Puell Multiple. The major support level is around $1,000, a historical floor during significant market corrections.When the Puell Multiple falls below 0.5, it often coincides with these support levels, suggesting Bitcoin is undervalued. A minor support level is around $10,000, a crucial psychological and technical zone where significant buying interest emerges.<a href="https://cryptotale.org/is-bitcoin-overvalued-puell-multiple-analysis-and-potential-ath/" rel="noopener noreferrer nofollow">Read more on CryptoTale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Is Bitcoin Overvalued? Puell Multiple Analysis and Potential ATH

CryptoTale

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