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CryptoQuant analyst: On-chain indicators show BTC is approaching a "favorable" buying level
Odaily Planet Daily News CryptoQuant analyst Grizzly wrote that historical data shows that the BTC Puell Multiple index between 0.6 and 0.8 can be described as the 'Decision Zone'. Analysis of the past decade's trends shows that when the index falls below the threshold of 0.6, it usually represents an ideal opportunity for Dollar Cost Averaging (DCA) strategy. On the contrary, historically, breaking through the level of 0.8 is associated with bullish market behavior and often pushes the BTC price to new historical highs. Currently, the Purduo Multiple Index is fluctuating between these two critical levels. If the historical pattern remains unchanged, the index falling to below 0.6 may once again bring favorable buying opportunities to investors in the fall scenario.