The $BTC gravity is around 70K, but don't be fooled by the round numbers. If we dive into the cycle indicators, everything suggests that the party is far from over. Here's why we are still in the heating phase.
1. The Puell Multiple screams "Undervaluation"
With a Puell Multiple of 0.70, history shows us that we are closer to an opportunity zone than an excess. What many see as a distribution actually resembles a massive accumulation. This explains the strength of the price: even after the cooling of macro news (like the rally related to the ceasefire), Bitcoin does not falter.