BTC Mayer Multiple: 1.144
Bitcoin's price divided by its 200-day average price. Below 0.8 has been deep-value territory in past cycles; above 2.4 has been an overheated market.
One number: today's price divided by the average closing price of the last 200 days. It shows how far the price has run ahead of, or fallen behind, its own year-long average.
For example, 1.2 means bitcoin trades 20% **above** its 200-day average. Below 0.8 the price is more than 20% under that average; above 2.4 it is more than 2.4 times it.
Zone lines are drawn at 0.8 and 2.4, with alert levels at 1.0 and 2.0 — and the ratio has not crossed any of them since March 2021. It states how far price has stretched from its own average, not what the stretch leads to.
In words: today's closing price divided by the average closing price of the previous 200 days.
The 200-day average moves as the price moves, so a long, steady climb can hold this near 1.0 even while the price doubles. It uses daily closing prices **only**.
Our own full BTC price history (btc_price_daily: blockchain.info daily closes, 2010-08 to today, 5800+ points). No external API at request time.
Own compute · full BTC price history 2010+ (no external API)