Bitcoin Trading Below Historical Bull Market Levels: Mayer Multiple Suggests BTC Is Undervalued
Main Idea
Bitcoin is currently trading below its historical bull market levels, with the Mayer Multiple indicating it is in a neutral zone, suggesting potential upside. The price is consolidating near all-time highs with strong support levels, but mixed signals and market uncertainty persist.
Key Points
1. Bitcoin's Mayer Multiple is at 1.1x, placing it in the 'neutral' zone (0.8–1.5x), indicating potential upside before reaching speculative extremes.
2. Bitcoin is trading at $108,474, consolidating below its all-time high with strong support at $103,600 and resistance at $109,300.
3. BTC remains above key moving averages (50-day, 100-day, 200-day), signaling underlying strength in the trend.
4. Market uncertainty persists due to geopolitical conflicts and inflation concerns, keeping investors cautious.
5. A breakout above $109,300 or breakdown below $103,600 could determine Bitcoin's next major price movement.
Description
Bitcoin is holding steady above the $108,000 level, maintaining a bullish structure despite repeated failures to break through its all-time high near $112,000. The price is consolidating in a tight short-term range, and whichever side breaks first will likely set the tone for the coming weeks. This period of low volatility may be the calm before the storm, as buyers and sellers prepare for the next major move. According to data from CryptoQuant, the Mayer Multiple — a classic indicator that meas...
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