On-chain research firm Glassnode has noted that Bitcoin’s Puell Multiple metric is now in the green for the first time since January 2019.
Hence, the firm states that it could be an ‘excellent period’ for investors to accumulate more BTC in order to be able to get outsized returns.
"The #Bitcoin Puell Multiple has dropped back into the green zone. This is a result of the reduced miners' revenue due to the halving. Historically, this zone has marked excellent periods for investors to accumulate $BTC for outsized returns." Chart:
It is worth noting that Puell Multiple has so far managed to mark the bottom of every bear market, including 2012 and 2015.
The metric also dipped in the green zone back in early 2019 after miners capitulated in December 2018.
Recently, BTC also printed seven back-to-back green candles on the weekly chart, which also looks early similar to the start of the Q2 bull market.