Mayer Multiple

How to read the Mayer Multiple

The Mayer Multiple compares Bitcoin's current price with its 200-day moving average. It is calculated as:

Mayer Multiple = Bitcoin price ÷ 200-day moving average

The 200-day moving average is one of the most widely followed trend measures in financial markets. When Bitcoin trades above it, momentum is generally stronger. When Bitcoin trades below it, the market is often weaker or in a corrective phase. The Mayer Multiple turns that relationship into a single number, showing how far price is trading above or below its medium-term trend.

Created by Bitcoin investor Trace Mayer, the indicator helps reduce daily price noise into a simple valuation and trend measure.

• Below 1.0 — Deep Value — Bitcoin is trading below its 200-day moving average. Historically, this has often been one of Bitcoin's more attractive long-term accumulation zones. It does not guarantee a bottom, but it can indicate that downside pressure is already well developed and long-term risk/reward has improved.
• 1.0 – 2.4 — Fair Value — Bitcoin is trading within its broad historical range relative to the 200-day moving average. There is no clear extreme signal in either direction, so long-term investors often continue their regular DCA strategy without making large adjustments.
• Above 2.4 — High Risk — Bitcoin is trading far above its 200-day moving average. Historically, this zone has been uncommon and has often appeared during overheated market conditions. It does not identify the exact top, but it can signal that new allocation carries less attractive risk/reward and deserves more caution.

Use it alongside AHR999 and the Fear & Greed Index for broader context. When several independent indicators point to similar conditions, the signal is usually more useful than any single metric on its own.