CryptoReviewing|Jul 31, 2026 15:53
BTC
The Puell Multiple is very close to historical cycle lows.
Every major cycle top has come with miner revenue overheating into the red zone.
Meanwhile, every major cycle bottom has been formed in the green zone.
And now, we’ve spent months hovering just above it.
This still looks like re-accumulation - with one final sweep lower possible before expansion.(CryptoReviewing)
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