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Bitcoin Mayer Multiple

The Mayer Multiple is the Bitcoin price divided by its 200-day moving average. 1.0 means the price sits on the average; readings above 2.4 came in overheated late bull markets, and readings under 0.8 near bear-market lows. The chart shows every day's value with those bands.

On 28 Sep 2026 Bitcoin ($83,058) trades at 1.17 times its 200-day moving average ($71,172). That is higher than on 67% of the days since 4 Mar 2018. It spent 1% of those days above 2.4 and 19% below 0.8.

Source: Binance spot BTCUSDT daily closes (UTC), from 17 Aug 2017Chart 17 Aug 2017 – 28 Sep 2026As of 11:45 UTC

Mayer Multiple 28 Sep 2026
1.17 Between 1.0 and 2.4
price ÷ 200-day MA
BTC close UTC day so far
$83,058
28 Sep 2026
Percentile rank
67%
of days since 4 Mar 2018
200-day MA
$71,172
record 2.82 on 8 Jan 2021

Mayer Multiple history

17 Aug 2017 – 28 Sep 2026 · linear · CSV
Bitcoin Mayer Multiple history Daily Bitcoin Mayer Multiple (price divided by the 200-day moving average) with lines at 0.8, 1.0 and 2.4; the area above 2.4 and below 0.8 is shaded. 0 0.5 1 1.5 2 2.5 3 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.8 1 2.4

Mayer Multiple above 2.4 below 0.8

The indicator starts on 4 Mar 2018, once the price history covers its longest average. The chart plots every 7th day to stay light; the CSV has every day. Not financial advice: these pages describe what each indicator showed in past cycles and predict nothing.

Mayer Multiple FAQ

What is the Mayer Multiple?

The Bitcoin price divided by its 200-day moving average, proposed by investor Trace Mayer. 1.0 means the price equals the average; 2.0 means it is twice the average.

What do the 0.8, 1.0 and 2.4 bands mean?

2.4 is the threshold Trace Mayer used: buying above it had historically given worse long-term results than buying below it, so readings above 2.4 are read as overheated. Readings under 0.8 have come near bear-market lows. 1.0 is the 200-day average itself, which is often used to separate bull from bear markets.

What is the percentile rank?

The share of all past days whose Mayer Multiple was at or below today's. 90% means today's value is higher than on nine in ten days of the history shown.

Where does the price data come from?

Daily closing prices (00:00 UTC) of Bitcoin from exchange public APIs: Binance spot BTCUSDT from 17 Aug 2017. Moving averages start once enough days of history have passed. The data refreshes every few hours, and today's close is the latest price so far. Each chart's data is free to download as CSV.

Is this a buy or sell signal?

No. These indicators describe how the price moved against its own averages in past cycles, and Bitcoin has had only a handful of cycles, so any pattern rests on very few examples. Nothing here is financial advice.