Bitcoin Puell Multiple Drops to 0.67, Miner Revenue Declines

Recent analysis indicates a decline in the Bitcoin Puell Multiple to 0.67, suggesting miner revenue is now only 67% of its 365-day average.

The Puell Multiple measures the daily BTC mining revenue against its 365-day moving average.
A value above 1 implies miners earn more than the yearly average; below 1 indicates less income.
The current drop is attributed to bearish market conditions affecting BTC's spot price.
Historically, significant Bitcoin bottoms have formed when the Puell Multiple falls below 0.50.

BTC Price: Bitcoin currently trades around $91,600.