Bitcoin eyes rebound to $96K from current ‘discount’ zone: Analysis

Bitcoin bull flag on the price charts projected a rebound to $96,000 as the Puell Multiple indicator suggested that BTC is undervalued at current prices.

Bitcoin (BTC) is due for a “new uptrend” as a key BTC price metric suggests that the recent drop to $80,000 provided a prime buying opportunity.

Bitcoin’s Puell Multiple has entered the discount zone, suggesting undervalued market conditions.

BTC bull flag pattern targets a short-term recovery to $96,000.

Bitcoin price is “entering an opportune moment”

Data from CryptoQuant suggests that Bitcoin is in a buy-the-dip zone. The Puell Multiple, which tracks miners’ daily revenue against the annual average, has returned to the discount zone, following Bitcoin’s latest drop to multi-month lows around $80,500.

When the Puell Multiple falls below 1, it indicates that miners are generating less revenue than usual, suggesting financial pressure and potential capitulation.

At 0.86, the metric signals undervaluation and suggests that the “market is pricing Bitcoin below its fair value,” said CryptoQuant analyst Gaah in a QuickTake analysis on Tuesday.

The last time the indicator was this low was in April 2025, when BTC was trading close to $75,000, preceding a 50% rally to its previous all-time highs of $112,000 reached on May 22.