{"id":60442,"date":"2025-11-26T08:16:55","date_gmt":"2025-11-26T08:16:55","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=60442"},"modified":"2025-11-26T08:16:55","modified_gmt":"2025-11-26T08:16:55","slug":"bitcoin-puell-multiple-drops-below-discount-zone-but-recovery-stalls","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=60442","title":{"rendered":"Bitcoin Puell Multiple Drops Below Discount Zone But Recovery Stalls"},"content":{"rendered":"<div>\n<p>The Bitcoin Puell Multiple has returned to the \u201cdiscount zone,\u201d a point historically associated with Bitcoin market funds, said CryptoQuant analyst \u2018Gaah\u2019 on Tuesday.\u00a0The last time the indicator was this low was in March 2025, when the price was trading close to $75,000.<\/p>\n<p>The Puell Multiple compares BTC miners\u2019 daily revenue to their annual average. When it falls below 1, miners are receiving less than normal, indicating financial pressure and potential capitulation.<\/p>\n<p>The indicator measures miner profitability and historically signals potential market tops and bottoms. \u201cThese moments often mark periods of opportunity, where the market prices Bitcoin below its fair value,\u201d he said.<\/p>\n<h2>Markets at an Opportune Moment<\/h2>\n<p>The market is signaling that it is entering an opportune moment, the analyst said before concluding:<\/p>\n<blockquote>\n<p>\u201cPrice zones where risk decreases and upside potential increases. It is precisely in these moments of pessimism that a new uptrend begins to form.\u201d<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Puell Multiple Below the Discount Zone<\/p>\n<p>\u201cHistorically, all major correction reversals have started in precisely these discount regions. It is not a guarantee of immediate bottoming, but statistically it has signaled major bottoms\u201d \u2013 By <a href=\"https:\/\/twitter.com\/gaah_im?ref_src=twsrc%5Etfw\">@gaah_im<\/a> <a href=\"https:\/\/t.co\/NTIZCocSfK\">pic.twitter.com\/NTIZCocSfK<\/a><\/p>\n<p>\u2014 CryptoQuant.com (@cryptoquant_com) <a href=\"https:\/\/twitter.com\/cryptoquant_com\/status\/1993318052474044808?ref_src=twsrc%5Etfw\">November 25, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The Bitcoin miner hash price has also slumped 43% over the past four months or so as miner profitability dwindles.\u00a0The metric, currently $0.036 per terahash per second per day, quantifies how much a miner can expect to earn for a given amount of hashrate, <a href=\"https:\/\/data.hashrateindex.com\/network-data\/bitcoin-hashprice-index\">according<\/a> to Hashrate Index. It is now at a historical low.<\/p>\n<p>Another metric called the Sharpe ratio has also <a href=\"https:\/\/cryptopotato.com\/bitcoin-btc-flashes-rare-risk-reward-signal-seen-only-3-times-since-2019\/\">fallen<\/a> into opportune risk\/reward territory. The indicator is at \u201ca level historically associated with moments of maximum uncertainty and the early stages of risk repricing,\u201d <a href=\"https:\/\/x.com\/cryptoquant_com\/status\/1993076666353304063\">reported<\/a> CryptoQuant earlier this week.<\/p>\n<p>The Sharpe ratio measures return versus risk, so when it is near zero, BTC has delivered poor returns, which creates a better investment setup.<\/p>\n<h2>Bitcoin Recovery Stalls<\/h2>\n<p>The Bitcoin recovery has stalled with the asset trading sideways over the past 24 hours.\u00a0BTC tapped $88,000 twice over the past 12 hours but <a href=\"https:\/\/cryptopotato.com\/bitcoin-tests-88000-as-fed-rate-cut-hopes-spark-recovery\/\">failed<\/a> to overcome resistance there and fell back. It is currently trading at $87,600 and starting to consolidate at this range.<\/p>\n<p>\u201cDespite a decent rebound to start the week, crypto markets still show significant short and mid-term losses among average wallet investments,\u201d <a href=\"https:\/\/x.com\/santimentfeed\/status\/1993401165703221488\">commented<\/a> Santiment.<\/p>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/bitcoin-puell-multiple-drops-below-discount-zone-but-recovery-stalls\/\">Bitcoin Puell Multiple Drops Below Discount Zone But Recovery Stalls<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Bitcoin Puell Multiple has returned to the \u201cdiscount zone,\u201d a point historically associated with Bitcoin market funds, said CryptoQuant analyst \u2018Gaah\u2019 on Tuesday.\u00a0The last time the indicator was this low was in March 2025, when the price was trading close to $75,000. The Puell Multiple compares BTC miners\u2019 daily revenue to their annual average. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-60442","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/60442","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=60442"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/60442\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=60442"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=60442"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=60442"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}