EPISODE · Jun 11, 2026 · 22 MIN
The Puell Multiple is declining - miners are entering the stress zone
from Adler AM: Bitcoin Morning Brief · host Axel Adler Jr.
Miner metrics have entered a stress zone comparable to post-halving drawdowns, but the market has not yet reached a full-scale capitulation on the scale of 2018 and 2022. The key question is whether the Puell 30DMA will hold above 0.50, or whether the market will shift into survival mode.
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