Analysis: The Bitcoin Mayer Multiple has rarely dropped to around 0.6, which may be a bullish signal

The founder of the Bitcoin and digital asset quantitative fund Capriole, Charles Edwards, stated that bullish signals for Bitcoin are emerging. The Bitcoin Mayer Multiple has rarely dropped to around 0.6. Although there is still a possibility for Bitcoin's price to decline further, historically, this range often corresponds to one of the most attractive buying points in Bitcoin's history.

Note: The Bitcoin Mayer Multiple is a technical indicator used to analyze the market conditions of Bitcoin, proposed by Trace Mayer. It assesses the relative valuation level of the market by comparing Bitcoin's current price with its 200-day moving average (200DMA). Historically, when the Mayer Multiple exceeds 2.4, it usually indicates that the market is overheated, and a correction or bear market may occur. When the Mayer Multiple is below 0.8, the market may be undervalued, which could be a good buying opportunity.