Bitcoin Mayer Multiple Z-Score Indicates Price Remains Below Historical Average
A quant analysis indicates that Bitcoin's Mayer Multiple suggests the asset is not overheated at its current price of $103,000.
Key Points on Bitcoin Mayer Multiple Z-Score
- The Mayer Multiple tracks the ratio between Bitcoin's spot price and its 200-day moving average (MA).
- This MA serves as a key boundary between bullish and bearish trends in cryptocurrency.
- The Mayer Multiple Z-Score assesses how far this ratio deviates from its historical mean.
- Currently, the Z-Score is below zero, indicating that Bitcoin's value is less than its historical average.
- 53% of historical days have seen higher ratios than the current level, suggesting Bitcoin remains relatively stable.
- Despite a negative Z-Score, it shows improvement from lows earlier this year.
- In previous cycles, the Mayer Multiple exceeded its mean significantly; it remains to be seen if this will occur again.
Current BTC Price
Bitcoin is currently trading around $102,700, reflecting a 1.5% decline over the past week.