Bitcoin Mayer Multiple
The Mayer multiple is 1.10: bitcoin at $80,569 is moderately above its 200-day average of $72,948. Since 2015 the multiple has been below 1 on 39% of days and above 2.4 on 1.4%. Its median is 1.11.
Live price, Oct 25, 2026, 19:04 UTC · Averages and models from daily closes to Oct 25, 2026
Mayer multiple: bitcoin price ÷ 200-day moving average
How the multiple has been spread
| Measure | Value |
|---|---|
| Today | 1.10 |
| 10% of days were below | 0.75 |
| Median | 1.11 |
| 10% of days were above | 1.69 |
| Days below 1.0 | 39% |
| Days above 2.4 | 1.4% |
What the Mayer multiple tells you
Investor Trace Mayer proposed dividing bitcoin's price by its 200-day moving average to judge whether it is stretched. Above 2.4 has historically marked late-stage bubbles (late 2017, early 2021); below 1 the price is under its average, as in most bear markets; below about 0.8 has coincided with deep lows.
The 200-day average follows the price with a lag, so the multiple rises quickly in rallies and falls quickly in sell-offs. It says how far the price has run, not where it goes next.
For a slower, four-year view see the 200-week average.
Other bitcoin indicators
Mayer multiple: FAQ
What is the bitcoin Mayer multiple today?
1.10 — the price ($80,569) divided by the 200-day moving average ($72,948).
What is a good Mayer multiple to buy?
There is no "good" level. Trace Mayer's original research found that buying below 2.4 had, in hindsight, beaten buying above it. Values below 1 have been common in bear markets. None of this is advice.
What was the highest Mayer multiple?
In our data since 2015, 3.93 on December 7, 2017. Earlier bubbles (2011, 2013) went higher.
How often is it above 2.4?
On 1.4% of days since 2015 — rare, and only near cycle peaks.
These are ways of describing the price history, not forecasts. Past patterns can break, and nothing here is investment advice.