Signals
Bitcoin Mayer Multiple
How far the Bitcoin price sits above or below its 200-day average, worked out from CoinGecko's daily closes.
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Today
- Bitcoin price
- $83,014
- 200-day average
- $71,849
Daily closes fetched · CoinGecko
Price against its 200-day average
Daily close200-day average
Live reading,
The price is 15.5% above its 200-day average
At $83,014 against a 200-day average of $71,849, the multiple reads 1.16. Over the 166 days we can calculate, Bitcoin closed above its average on 52 of them.
The multiple peaked at 1.23 on 22 Sept 2026 and bottomed at 0.77 on 6 Jun 2026. The last crossing of the 1.0 line came on 20 Aug 2026, when the price moved back above its average.
History
Mayer Multiple, last 166 days
The blue shading covers readings below 1.0, the days when the price sat under its 200-day average.
Price levels
Where each Mayer reading sits in today's prices
Each row multiplies the current 200-day average by the reading. The average moves every day, so these prices move with it.
| Reading | Bitcoin price | Versus today | What the level means |
|---|---|---|---|
| 0.8 | $57,480 | -30.8% | Deep below trend |
| 1.0 | $71,849 | -13.4% | Price equals its 200-day average |
| 1.16 today | $83,014 | +0.0% | Where the price is today |
| 1.5 | $107,774 | +29.8% | Well above trend |
| 2.4 | $172,439 | +107.7% | The level Trace Mayer’s original study treated as overheated |
Definitions
Terms used on this page
- 200-day moving average
- The average of the last 200 daily closing prices. It smooths out short swings and changes slowly.
- Mayer Multiple
- The current price divided by the 200-day moving average. A reading of 1.15 means the price is 15% above the average.
- Daily close
- CoinGecko’s Bitcoin price at the end of each UTC day, which is what the average is built from.
- Above and below trend
- Our shorthand for readings over and under 1.0. They describe position, not momentum or direction.
Questions
Mayer Multiple questions
What is the Mayer Multiple?
It’s the Bitcoin price divided by the average of the previous 200 daily closes, a ratio popularised by Trace Mayer, who used to host the Bitcoin Knowledge podcast. We added it in October 2026 when we rebuilt our signals pages, and if we’re honest the main reason was that it only needs the price history we were already pulling from CoinGecko, so there was nothing new to source or check.
What does a reading below 1 mean?
It means the price is under its 200-day average, and that’s about all it means on its own. When we went back over the last few years, the long stretches below 1 were mostly in 2022, when the price slid from around $47,000 at the end of March to under $16,000 by November, but we also found plenty of shorter dips of a few weeks in years that ended up higher. So we’ve got into the habit of checking how long it has been below the line on the chart before we think about it any further, because a fortnight under 1 in a strong year looked nothing like those months in 2022.
Why is 2.4 treated as a warning level?
Mayer’s own look at the old price data suggested readings above about 2.4 had been rare and had usually come near big peaks, and the number has been repeated ever since. We’ve kept it on the scale because people look for it, but we’d be wary of leaning on it too much, as it comes from a fairly short history with only a few cycles in it.
How is the figure on this page calculated?
We take 365 daily closes from CoinGecko, average the most recent 200 and divide the live price by that, which gave us an average of $71,849 at the last refresh. The price history updates every six hours and the live price every five minutes, so the number at the top moves around during the day while the chart only gets a new point once a day, and the two can be a little different for a few hours.
