Bitcoin Mayer Multiple Signals $108K Undervaluation
New on-chain analysis shows Bitcoin’s Mayer Multiple (price divided by its 200-day moving average) stands at 1.1×, within the neutral 0.8–1.5× zone and well below the 1.5× overbought threshold. The Mayer Multiple indicates Bitcoin remains undervalued, potentially fueling a fresh bull-run impulse. CoinGlass’s 30 bull peak indicators are still in “hold” status, signaling no imminent market top. Analysts including Rekt Capital and CryptoCon now favor October 2025 for the next Bitcoin bull-market peak, aligning with historical halving cycles. Trader Jelle has already begun profit-taking, but overall on-chain metrics and market sentiment remain bullish, suggesting room for further upside before the anticipated cycle top.
Bullish
The Mayer Multiple historically peaks above 1.5× around cycle tops, so its current 1.1× reading—well within the neutral zone—suggests Bitcoin still has room to climb. All 30 bull-peak signals tracked by CoinGlass remain in “hold,” underscoring the absence of a sell-off signal. Analysts referencing past halving cycles forecast an October 2025 top, consistent with current momentum. Early profit-taking by traders like Jelle fits typical late-cycle behavior but hasn’t shifted overall sentiment. In the short term, the neutral Mayer Multiple may attract new buyers anticipating further gains. Long term, the metric’s undervaluation supports sustained bullish bias until indicators breach overbought levels.