TLDR
- Bitcoin is trading at all-time highs but remains far from overbought based on the Mayer Multiple.
- The Mayer Multiple currently stands at 1.16, which is significantly below the historical overbought level of 2.4.
- For Bitcoin to reach an overbought signal on this metric, the BTC price would need to rise to approximately $180,000.
- Analysts believe the current Mayer Multiple level supports a continued bullish trend in the BTC price.
- This bull cycle has not seen a blow-off top, which suggests a more sustainable price increase for Bitcoin.
Bitcoin currently trades at all-time highs, but the Mayer Multiple indicates its rally has more room to run. The BTC price stands near $118,720, and the metric remains historically low. This setup suggests Bitcoin may not yet be in overbought territory despite intense price action.
BTC Price Still Below Historical Overbought Levels
Bitcoin’s Mayer Multiple currently stands at 1.16, significantly below the 2.4 threshold that indicates overbought conditions. This multiple compares the BTC price to its 200-week moving average, offering a reliable long-term view. Historically, bull markets reached overbought levels only after surpassing 2.4 on this metric.
Bitcoin is at all-time highs and the Mayer Multiple is ice cold. I like the setup. $BTC pic.twitter.com/I5pNkydV2l
— Frank (@FrankAFetter) October 9, 2025
Frank A. Fetter, a crypto quant analyst, noted, “Bitcoin is at all-time highs and the Mayer Multiple is ice cold.” He shared a chart showing that the BTC price would need to reach $180,000 to trigger the 2.4 level. This suggests Bitcoin still has significant upside before being considered overheated.
Unlike past cycles, this bull market has lacked a typical blow-off top. The BTC price has climbed steadily without extreme volatility or parabolic moves. Consequently, long-term indicators like the Mayer Multiple show more balanced growth.
In March 2024, the Multiple peaked at just 1.84 when BTC price hovered around $72,000. This figure was well below historical extremes observed during prior market peaks. The relatively moderate reading indicates a healthy, sustainable uptrend.
Analysts Support BTC Continuation
Analysts continue to support the bullish thesis based on current Mayer Multiple levels. Axel Adler Jr. commented that a reading near 1.1 offers a “good fuel reserve for a new upward impulse.” This aligns with Fetter’s optimistic assessment.
If BTC price moves toward $180,000, the Mayer Multiple would finally signal overbought status. Until then, the metric continues to support ongoing bullish momentum. Traders and analysts now focus on this key indicator to gauge the potential of the BTC price.
