---
title: "Puell Multiple · 52etf.net"
kind: "term"
url: "https://52etf.net/tags/puell-multiple/"
markdown_url: "https://52etf.net/tags/puell-multiple/index.md"
content_signal: "search=yes, ai-input=yes, ai-train=no"
---

# Puell Multiple — Markdown for Agents (term)
- **[2026-10-25] [BTC MVRV Z-Score 与 CBBI / BTI 周期复合指标 (MVRV & Composite Cycle Index)](https://52etf.net/05-crypto/btc-mvrv-cbbi/index.md)**
  - Summary: MVRV = Market Cap / Realized Cap | MVRV小牛顶经验位 2.2~2.3 / 大底 <1.0 | CBBI 9因子公开复合指数 (0~100分) 与 12因子周期复合指标拆解
  - Primary Source: https://charts.checkonchain.com/btconchain/unrealised/mvrv_all/mvrv_all_light.html
  - Backup Source: https://colintalkscrypto.com/cbbi/
  - Tags: `#Crypto` `#BTC` `#MVRV` `#CBBI` `#CVDD` `#NUPL` `#Puell Multiple` `#Pi Cycle`