What The Puell Multiple, The MVRV Z-Score and Realized Cap HODL Waves Indicate for Bitcoin's Peak

Bitcoin's price is down almost 30% from its all-time high of $65,000. Bitcoin peaked in April 2013, but experts say it's not the peak of the market cycle. Three metrics — Puell Multiple, MVRV Z-score, and Realized Cap HODL Waves — can help you decide whether an upswing marks the peak or just the ebbs and flows of a very volatile asset. Each time bitcoin’s price dropped at least 67% in the month afterward and as much as 90% to the eventual bottom.