#Bitcoin is nowhere near a market top.


This chart shows the Puell Multiple, a powerful on-chain metric that’s nailed every $BTC cycle top and bottom since 2011.
Peaks in 2011, 2013, 2017, and 2021 all occurred when miner revenue (orange line) entered the overheated red zone.
Today?
We're still comfortably in the re-accumulation zone just like 2015, 2018, and 2022.
Historically, this zone has always preceded parabolic rallies.
The big move is still ahead.
GT-0.63%
BTC2.54%
ETH-0.36%
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