What This Chart Shows
The Mayer Multiple is Bitcoin’s price divided by its 200-day moving average — one number for how far price sits above or below its long-term trend. It is deliberately simple, which is why it has held up across every cycle.
- Price & 200DMA sit in the top panel (log scale). Where the Mayer Multiple is in deep value (under ~0.65) the panel shades green; above 2.4 it shades red.
- The Mayer oscillator runs below, with dashed guides at 0.65 (deep value), 1.0 (the 200DMA) and 2.4 (the classic overbought line).
- Below 1 — price is under its 200-day average; the deepest stretches (under ~0.65) are the shaded green floor, which has repeatedly lined up with bear-market lows.
- Above 2.4 — price is stretched far above trend. Historically overheated, and clustered near cycle tops.
How to Read It
The classic result: buying Bitcoin only when the Mayer Multiple was below 2.4 historically beat buying at any price, and the deepest value has come well under 1. So the green (deep-value, under ~0.65) shading marks the most stretched-cheap zones, and the red (2.4+) shading marks where price has run hot.
Like any trend gauge it is not a timer — in strong bulls the Mayer can push above 2.4 and stay there for weeks, and each cycle’s peak has printed a progressively lower Mayer as the 200DMA base grows. Read it as a measure of how extended price is, alongside on-chain and macro context.
Drag to pan, scroll or box-zoom to zoom; the toolbar autoscales, resets or downloads the chart. Hover to read price, the 200DMA and the Mayer Multiple together.
Frequently Asked Questions
What is the Mayer Multiple?
Bitcoin’s price divided by its 200-day moving average. A reading of 1 means price is on the 200DMA; below 1 is under trend (a value zone); high readings mean price is stretched above trend.
What do 1.0 and 2.4 mean?
1.0 is the 200DMA itself. 2.4 is the classic overbought threshold — buying below it historically beat buying at any price, and readings above it have clustered near tops.
Where does the data come from?
It is computed in the browser from our daily price feed — price ÷ the trailing 200-day simple moving average. No third-party data required. Updated daily.