Price & trend signal · Bitcoin cycle

Mayer Multiple

Price divided by the 200-day average — a durable valuation ratio for the Bitcoin cycle.

0.84

Bottom territory

Heavy discount to trend; bottom-leaning.

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What is the Mayer Multiple?

The Mayer Multiple is Bitcoin’s price divided by its 200-day moving average. A value of 1.0 means price sits exactly on its long-term average; below 1.0 is a discount, above is a premium.

Readings well under 1.0 have historically marked deep-value, accumulation-style zones, while readings above ~2.4 have clustered near euphoric tops. It is prized for being simple and hard to game.

Named after Trace Mayer, the ratio is computed straight from our own median exchange price index — no proprietary data needed.

Mayer Multiple chart & history

Recent cycle position (0–100) of the Mayer Multiple. Today's reading is 0.84 — Heavy discount to trend; bottom-leaning.

How to read it

There's no magic threshold, but history gives rough bands. Think of these as context, not triggers.

Zone	Reading	What it has meant historically
Deep value● now	below ~0.8	Heavy discount to trend; bottom-leaning.
Neutral	~0.8 – 2.4	Normal valuation range.
Overheated	above ~2.4	Large premium; has bracketed tops.

It's a signal about months and cycles, not days. That's why CryptoMarketCycle blends it with the other signals rather than reading it alone.

Common questions

It is Bitcoin’s price divided by its 200-day moving average. Below 1.0 is a discount to the long-term average; above 1.0 is a premium.

Historically, low readings have lined up with accumulation zones near cycle lows. It is one valuation lens among many.

Related signals

The Mayer Multiple is 1 of 16 signals behind the Crypto Market Cycle Index.

See the full index →