Mayer Multiple
UndervaluedThe Mayer Multiple is the ratio of Bitcoin's price to its 200-day moving average. Below 0.6 has historically marked generational buying opportunities — deep capitulation zones seen only at major cycle bottoms. Above 2.4 signals extreme overextension and euphoria.
The Mayer Multiple tells you how far Bitcoin's price is from its 200-day average. When it drops below 0.6, the price is more than 40% below the average — that level of pain has only happened at major cycle bottoms. Every time it got that low, it turned out to be one of the best times to buy in Bitcoin's history.
Methodology
A simple 200-day moving average of daily closing prices is computed. The Mayer Multiple is then price / 200-day MA. Values below 1 mean price is below the long-term average; values above 1 mean price is above it. The indicator was popularized by Trace Mayer.
Zones
Last updated: 2026-03-23 | Data source: CoinMetrics Community
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