{"id":470143,"date":"2021-08-25T23:00:54","date_gmt":"2021-08-25T23:00:54","guid":{"rendered":"https:\/\/uniquehot.com\/?p=470143"},"modified":"2024-06-11T07:47:46","modified_gmt":"2024-06-11T07:47:46","slug":"puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/","title":{"rendered":"Puell Multiple: The Bitcoin Metric That Says BTC Miners Aren\u2019t Ready To Sell"},"content":{"rendered":"

Miners determine more of bitcoin price than most investors understand. The price at which miners are willing to sell usually correlates with how much profit that they can make from selling the coins that they have mined. Depending on the price of the asset, miners usually choose to sell or hold it. This could influence the market price of bitcoin.<\/p>\n

Related Reading |\u00a0Number Of Short-Term Bitcoin Holders Hits All-Time Low, How This Affects The Price<\/a><\/strong><\/em><\/p>\n

Profitability is the major reason for mining. But when profitability goes down, miners either sell and cut their losses, or the other option, where they can hold on to their coins and wait for the price to get a point where profitability increases. According to the Puell Multiple, miners are currently choosing the latter. Holding their coins instead of selling for lesser profitability.<\/p>\n

Miner Profitability Drops<\/h2>\n

Data shows that miner profitability has dropped in comparison to the last time that bitcoin was at this price. The profitability for bitcoin back in April at $50K had been 40% higher than it is right now when bitcoin hit $50K again. This means that miner profitability is hitting the lows at all-time highs.<\/p>\n

This drop in profitability has seen miners refusing to sell the BTC they are rewarded with for mining blocks. Instead choosing to hold these coins in wait for much higher prices.<\/p>\n

\"Puell<\/p>\n

Miners are selling less compared to the previous bull market | Source: CryptoQuant<\/a><\/pre>\n
The Miner Position Index (MPI) tells us the ratio of the bitcoins leaving miners’ wallets compared to the one-year moving average. This year, the Miner Position Index shows that this number has fallen to a negative 0.405. A Miner Position Index of 2 or higher means most miners are selling their coins. Below 2 means some are selling. But at a negative 0.405 number, it means almost all of the miners are choosing not to sell their coins.<\/p>\n
Bitcoin Price Staggers As Miners Refuse To Sell<\/h2>\n
Bitcoin price has been on an upward trajectory for the better part of the weekend. Finally breaking the $50K price point on Monday as market sentiment rose into extreme greed. After the break, the price quickly went into a downward correction that dragged the price of BTC back down into the $47K range. A hard-won battle had been fought to get the price above this resistance point. But now it seems the whole process is to be repeated again due to the current dip in price.<\/p>\n
\"Bitcoin<\/p>\n
BTC price back up above $49,000 | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Another uptrend on Wednesday has put the digital asset on a path to taking back its position over $50K. Indicators show that the bulls still have complete control of the market. Despite the dip, sentiments have not turned into the negative. Buy pressures continue to be the order of the day as both institutional and individual investors clamor for a position in the leading cryptocurrency.<\/p>\n
Related Reading |\u00a0Why An 18% Drop In Bitcoin Could Still Be Bullish<\/a><\/strong><\/em><\/p>\n
Despite this, miners do not find this a profitable point to sell. With price projections so high, going up to over $100,000 by the end of the year, it is no surprise that miners are choosing to hold on to their coins for better prices.<\/p>\n
Featured image from Bitcoin News, chart from CryptoQuant and TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
Miners determine more of bitcoin price than most investors understand. The price at which miners are willing to sell usually correlates with how much profit that they can make from selling the coins that they have mined. Depending on the price of the asset, miners usually choose to sell or hold it. This could influence the market price of bitcoin. Related Reading |\u00a0Number Of Short-Term Bitcoin Holders Hits All-Time Low, How This Affects The Price Profitability is the major reason for mining. But when profitability goes down, miners either sell and cut their losses, or the other option, where they can hold on to their coins and wait for the price to get a point where profitability increases. According to the Puell Multiple, miners are currently choosing the latter. Holding their coins instead of selling for lesser profitability. Miner Profitability Drops Data shows that miner profitability has dropped in comparison to the last time that bitcoin was at this price. The profitability for bitcoin back in April at $50K had been 40% higher than it is right now when bitcoin hit $50K again. This means that miner profitability is hitting the lows at all-time highs. This drop in profitability has seen miners refusing to sell the BTC they are rewarded with for mining blocks. Instead choosing to hold these coins in wait for much higher prices. Miners are selling less compared to the previous bull market | Source: CryptoQuant The Miner Position Index (MPI) tells us the ratio of the bitcoins leaving miners’ wallets compared to the one-year moving average. This year, the Miner Position Index shows that this number has fallen to a negative 0.405. A Miner Position Index of 2 or higher means most miners are selling their coins. Below 2 means some are selling. But at a negative 0.405 number, it means almost all of the miners are choosing not to sell their coins. Bitcoin Price Staggers As Miners Refuse To Sell Bitcoin price has been on an upward trajectory for the better part of the weekend. Finally breaking the $50K price point on Monday as market sentiment rose into extreme greed. After the break, the price quickly went into a downward correction that dragged the price of BTC back down into the $47K range. A hard-won battle had been fought to get the price above this resistance point. But now it seems the whole process is to be repeated again due to the current dip in price. BTC price back up above $49,000 | Source: BTCUSD on TradingView.com Another uptrend on Wednesday has put the digital asset on a path to taking back its position over $50K. Indicators show that the bulls still have complete control of the market. Despite the dip, sentiments have not turned into the negative. Buy pressures continue to be the order of the day as both institutional and individual investors clamor for a position in the leading cryptocurrency. Related Reading |\u00a0Why An 18% Drop In Bitcoin Could Still Be Bullish Despite this, miners do not find this a profitable point to sell. With price projections so high, going up to over $100,000 by the end of the year, it is no surprise that miners are choosing to hold on to their coins for better prices. Featured image from Bitcoin News, chart from CryptoQuant and TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":470145,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,639,1119,1144,78790,55919],"class_list":["post-470143","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-miners","tag-btc","tag-btcusd","tag-btcusdt","tag-puell-multiple"],"acf":[],"yoast_head":"\nPuell Multiple: The Bitcoin Metric That Says BTC Miners Aren\u2019t Ready To Sell<\/title>\n<meta name=\"description\" content=\"Miners determine more of bitcoin price than most investors understand. The price at which miners are willing to sell usually correlates with how much\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Puell Multiple: The Bitcoin Metric That Says BTC Miners Aren\u2019t Ready To Sell\" \/>\n<meta property=\"og:description\" content=\"Miners determine more of bitcoin price than most investors understand. The price at which miners are willing to sell usually correlates with how much\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-25T23:00:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T07:47:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/btc-8.jpeg?fit=1280%2C720\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Best Owie\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/BestOwie\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Best Owie\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/\"},\"author\":{\"name\":\"Best Owie\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/b236087b2f145ce081dea57a73bc356d\"},\"headline\":\"Puell Multiple: The Bitcoin Metric That Says BTC Miners Aren\u2019t Ready To Sell\",\"datePublished\":\"2021-08-25T23:00:54+00:00\",\"dateModified\":\"2024-06-11T07:47:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/\"},\"wordCount\":527,\"publisher\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/btc-8.jpeg?fit=1280%2C720\",\"keywords\":[\"bitcoin\",\"bitcoin miners\",\"btc\",\"btcusd\",\"BTCUSDT\",\"puell multiple\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2021\",\"copyrightHolder\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/\",\"url\":\"https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/\",\"name\":\"Puell Multiple: The Bitcoin Metric That Says BTC Miners Aren\u2019t Ready To Sell\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/btc-8.jpeg?fit=1280%2C720\",\"datePublished\":\"2021-08-25T23:00:54+00:00\",\"dateModified\":\"2024-06-11T07:47:46+00:00\",\"description\":\"Miners determine more of bitcoin price than most investors understand. The price at which miners are willing to sell usually correlates with how much\",\"breadcrumb\":{\"@id\":\"https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/#primaryimage\",\"url\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/btc-8.jpeg?fit=1280%2C720\",\"contentUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/btc-8.jpeg?fit=1280%2C720\",\"width\":1280,\"height\":720,\"caption\":\"Picture of silver and gold bitcoins stacked together on top of a dollar bill\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/uniquehot.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Puell Multiple: The Bitcoin Metric That Says BTC Miners Aren\u2019t Ready To Sell\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/uniquehot.com\/#website\",\"url\":\"https:\/\/uniquehot.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin & Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/uniquehot.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/uniquehot.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/uniquehot.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/b236087b2f145ce081dea57a73bc356d\",\"name\":\"Best Owie\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/655d8eb59d2a39996a726112b46c1492?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/655d8eb59d2a39996a726112b46c1492?s=96&d=mm&r=g\",\"caption\":\"Best Owie\"},\"description\":\"Best Owie is a seasoned managing editor with a wealth of experience currently serving as the Managing Editor at NewsBTC. Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/\",\"https:\/\/x.com\/https:\/\/twitter.com\/BestOwie\"],\"url\":\"https:\/\/uniquehot.com\/author\/owiebest\/\"}]}<\/script>\n","yoast_head_json":{"title":"Puell Multiple: The Bitcoin Metric That Says BTC Miners Aren\u2019t Ready To Sell","description":"Miners determine more of bitcoin price than most investors understand. The price at which miners are willing to sell usually correlates with how much","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/","og_locale":"en_US","og_type":"article","og_title":"Puell Multiple: The Bitcoin Metric That Says BTC Miners Aren\u2019t Ready To Sell","og_description":"Miners determine more of bitcoin price than most investors understand. The price at which miners are willing to sell usually correlates with how much","og_url":"https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2021-08-25T23:00:54+00:00","article_modified_time":"2024-06-11T07:47:46+00:00","og_image":[{"width":1280,"height":720,"url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/btc-8.jpeg?fit=1280%2C720","type":"image\/jpeg"}],"author":"Best Owie","twitter_card":"summary_large_image","twitter_creator":"@https:\/\/twitter.com\/BestOwie","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Best Owie","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/#article","isPartOf":{"@id":"https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/"},"author":{"name":"Best Owie","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/b236087b2f145ce081dea57a73bc356d"},"headline":"Puell Multiple: The Bitcoin Metric That Says BTC Miners Aren\u2019t Ready To Sell","datePublished":"2021-08-25T23:00:54+00:00","dateModified":"2024-06-11T07:47:46+00:00","mainEntityOfPage":{"@id":"https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/"},"wordCount":527,"publisher":{"@id":"https:\/\/uniquehot.com\/#organization"},"image":{"@id":"https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/#primaryimage"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/btc-8.jpeg?fit=1280%2C720","keywords":["bitcoin","bitcoin miners","btc","btcusd","BTCUSDT","puell multiple"],"articleSection":["Cryptocurrency Market News"],"inLanguage":"en-US","copyrightYear":"2021","copyrightHolder":{"@id":"https:\/\/uniquehot.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/","url":"https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/","name":"Puell Multiple: The Bitcoin Metric That Says BTC Miners Aren\u2019t Ready To Sell","isPartOf":{"@id":"https:\/\/uniquehot.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/#primaryimage"},"image":{"@id":"https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/#primaryimage"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/btc-8.jpeg?fit=1280%2C720","datePublished":"2021-08-25T23:00:54+00:00","dateModified":"2024-06-11T07:47:46+00:00","description":"Miners determine more of bitcoin price than most investors understand. The price at which miners are willing to sell usually correlates with how much","breadcrumb":{"@id":"https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/#primaryimage","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/btc-8.jpeg?fit=1280%2C720","contentUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/btc-8.jpeg?fit=1280%2C720","width":1280,"height":720,"caption":"Picture of silver and gold bitcoins stacked together on top of a dollar bill"},{"@type":"BreadcrumbList","@id":"https:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/uniquehot.com\/"},{"@type":"ListItem","position":2,"name":"Puell Multiple: The Bitcoin Metric That Says BTC Miners Aren\u2019t Ready To Sell"}]},{"@type":"WebSite","@id":"https:\/\/uniquehot.com\/#website","url":"https:\/\/uniquehot.com\/","name":"NewsBTC","description":"Bitcoin & Cryptocurrency News Today","publisher":{"@id":"https:\/\/uniquehot.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/uniquehot.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/uniquehot.com\/#organization","name":"NewsBTC","url":"https:\/\/uniquehot.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/b236087b2f145ce081dea57a73bc356d","name":"Best Owie","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/655d8eb59d2a39996a726112b46c1492?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/655d8eb59d2a39996a726112b46c1492?s=96&d=mm&r=g","caption":"Best Owie"},"description":"Best Owie is a seasoned managing editor with a wealth of experience currently serving as the Managing Editor at NewsBTC. Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/uniquehot.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Puell Multiple: The Bitcoin Metric That Says BTC Miners Aren\u2019t Ready To Sell","url":"http:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/btc-8.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/btc-8.jpeg?fit=1280%2C720"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin miners","btc","btcusd","btcusdt","puell multiple"],"dateCreated":"2021-08-25T23:00:54Z","datePublished":"2021-08-25T23:00:54Z","dateModified":"2024-06-11T07:47:46Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Puell Multiple: The Bitcoin Metric That Says BTC Miners Aren\\u2019t Ready To Sell\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/puell-multiple-the-bitcoin-metric-that-says-btc-miners-arent-ready-to-sell\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/08\\\/btc-8.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/08\\\/btc-8.jpeg?fit=1280%2C720\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin miners\",\"btc\",\"btcusd\",\"btcusdt\",\"puell multiple\"],\"dateCreated\":\"2021-08-25T23:00:54Z\",\"datePublished\":\"2021-08-25T23:00:54Z\",\"dateModified\":\"2024-06-11T07:47:46Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/btc-8.jpeg?fit=1280%2C720","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/470143"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=470143"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/470143\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/470145"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=470143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=470143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=470143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}