Bitcoin 
$103,698 appears poised for significant upward movement after a robust start to 2025. However, questions remain about the overall health of the market and whether the current bullish momentum can be sustained in the coming weeks and months. This article objectively assesses key figures that support the existing trend, backed by data.
State of Miners
The Puell Multiple is a metric that compares miners’ daily USD income to its yearly average, indicating that Bitcoin’s fundamental network strength remains intact. Historically, a halving event has led to a noticeable decline in miner revenues due to a 50% reduction in block rewards. Nonetheless, the recent rise of the Puell Multiple above 1 may signal a recovery and the potential onset of a bullish phase.
BTC ($89,649.00) Bullish Signal for 2025
The MVRV Z-Score analyzes Bitcoin’s market value against its realized value, revealing that current figures remain significantly below historical peak levels. This suggests a considerable growth potential. Additionally, a two-year moving average version of the MVRV Z-Score indicates that Bitcoin ...
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