Mayer Multiple chart: Bitcoin price divided by its 200-day moving average. Above 2.4 has marked overheated markets, below 0.8 deep-value zones. Updated daily.
Price above the red dashed line = Mayer Multiple over 2.4; below the green = under 0.8. Log scale.
Mayer Multiple = price / SMA(200)
The Mayer Multiple is the close divided by its 200-day simple moving average. The chart draws price, the 200-day average and two dashed reference levels: 2.4× the average (historically overheated) and 0.8× (historically deep value).
Readings above 2.4 have preceded sharp corrections in every cycle, and the multiple rarely stayed there for more than a few weeks. Readings below 0.8 coincided with the 2015, 2018–19, 2020 and 2022 lows.
1.17 as of Sep 4, 2026 — between the 0.8 and 2.4 reference levels.
Above 2.4 has historically been the overheated zone: price more than 140% above its 200-day average. The multiple exceeded 2.4 at the 2013, 2017 and early-2021 tops and did not hold there for long.
Trace Mayer proposed it in 2017 as a simple way to gauge whether Bitcoin was trading far from its long-term trend. The 200-day average and the 2.4 / 0.8 levels are his original parameters.
Coinfuty computes every series on this page from daily BTC close prices and public constants — the Bitcoin halving schedule, block subsidy and published regression coefficients. Values refresh nightly (00:20 UTC) and the current day is patched hourly. These are historical, backward-looking indicators; nothing here is investment advice.