CandleFocus These On-Chain Indicators Say “Sideways Summer” Is Over For Bitcoin
2024-09-13
Author: Content Editor
Bitcoin may be gearing up for a significant price breakout, according to on-chain indicators. The Puell multiple, which measures miner profitability, has reached a low not seen since the end of 2022, potentially signaling a market bottom and undervalued Bitcoin. Other indicators, such as the number of active addresses on-chain and the average perpetual futures funding rate, also suggest a possible bottom and bullish signal. Additionally, seasonal factors and central bank actions, such as lowering interest rates, may further support a potential bull market.
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