Bitcoin Puell Multiple Rises to 0.96, Reaching a Three-Month High

The Bitcoin Puell Multiple rose to 0.96 on August 22, an increase of 0.2 from a week earlier, marking the highest level in nearly three months. The Puell Multiple measures the daily issuance value of Bitcoin relative to its 365-day moving average, commonly used to observe miner income and market cycles. As of August 22, Bitcoin miners held approximately 1.1919 million BTC, a decrease of 46 BTC from the previous week; the seven-day moving average of the Bitcoin network's hash rate was approximately 905 EH/s, an increase of about 10.14 EH/s from a week earlier.

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