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Bitcoin's Mayer Multiple hits 2022 levels: Where is BTC price bottom?
Bitcoin has entered the “darkest days” of its bear market correction, based on a classic BTC price indicator hitting near four-year lows. Bitcoin’s 45% crash from its $126,000 peak has placed onchain indicators in focus as market participants search for where BTC price is likely to bottom. The Mayer Multiple is among the indicators suggesting that a bottom could be reached soon. In a post on X on Tuesday, analyst On-Chain College said that the Bitcoin Mayer Multiple score had dropped to levels “usually reserved for deep bear market corrections.” The indicator measures Bitcoin’s current price against its ... (full story)
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