Bitcoin: On-Chain Data Signals BTC Bottom

Bitcoin on-chain metrics including the Puell Multiple at 0.65 flag a bottoming formation after nearly five months of sideways action from $60K, with no clear argument for deeper lows if the current correction stalls.

Price action at $63836.78 sits just below the EMA50 at $64141.39 inside Bollinger Bands while the MACD golden cross at -267.19 overrides the broader bearish EMA200 structure at $68646.4, pointing to a probable test of upper band resistance near $65273.25 before any deeper probe of the lower band support at $61946.3 with neutral RSI at 49.13.