Bitcoin At $103,000 Relatively Cool Per This Indicator, Quant Says
The Mayer Multiple indicates Bitcoin is not overheated at $103,000, based on its Z-Score, which tracks deviation from the mean value. The Mayer Multiple measures the ratio of Bitcoin's spot price to its 200-day moving average, a key boundary for bullish and bearish trends. Currently, the Z-Score is below zero, suggesting Bitcoin's value is less than its historical average. Approximately 53% of days have seen higher ratios than the current level, indicating Bitcoin remains relatively cool. The Z-Score has improved from earlier lows this year, and if bullish momentum continues, it may approach the zero level soon. The Mayer Multiple has previously exceeded its mean during this cycle but has not reached the extremes seen in early 2021. Bitcoin is currently trading at $102,700, down 1.5% over the past week.
