In recent days, Bitcoin (BTC USD) has traded between $102,335.72** and **$106,428.81, appearing stagnant below its all-time high (ATH) of $109,114.88. While just 3% away from this peak, speculation about overbuying has emerged. However, key metrics suggest the bull run is far from over.
Bitcoin’s Mayer Multiple: A Neutral Zone Signal
Glassnode’s analysis using the Mayer Multiple (MM) indicator reveals Bitcoin is not overbought. The MM—calculated by dividing BTC’s current price by its 200-day moving average—must exceed 2.4 (or $181,000) to enter overbought territory.
Key Insights:
- Current MM Value: 1.37 (BTC price ~$104,000).
- Implication: Bitcoin trades 1.37x its 200-day average, signaling neutral momentum with room for growth.
- Threshold: Prices beyond $181,000 may indicate market overheating.
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Bull Run Projections: Why $181,000 Is Achievable
Analysts cite historical trends and multiplier models projecting targets between $145,000** and **$249,000. With BTC currently at $106,123.90** (up 1.18% in 24 hours), the path to $181,000 implies a 70%+ upside**.
Supporting Factors:
- Market Health: MM values below 2.4 suggest sustainable growth.
- Investor Sentiment: Trading volume dipped 13.74% to $71.97B—rebounding interest could fuel rallies.
- Support Levels: BTC holds above $100,700**, with critical support at **$104,000.
FAQs: Bitcoin Price Dynamics
Q: What is the Mayer Multiple?
A: A metric comparing BTC’s price to its 200-day average to assess overbought/oversold conditions.
Q: When might Bitcoin hit $181,000?
A: Depending on market momentum, this could occur if MM surpasses 2.4, potentially within the current bull cycle.
Q: Is Bitcoin overvalued now?
A: No. An MM of 1.37 indicates neutral valuation, not overbought.
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Key Takeaways
- Bitcoin’s Mayer Multiple suggests the rally has room to grow.
- $181,000 is the next major target before overbought signals appear.
- Monitor trading volume and support levels ($100,700–$104,000) for trend confirmation.
Disclaimer: This content is informational only and not financial advice. Crypto investments carry risks.