2011-11-18
Mayer Multiple: 0.2321.
Bitcoin price in the same daily row: $2.11. This is a descriptive reference point in this dataset; it does not establish a market top, bottom or future return.
BTC: Mayer Multiple
Bitcoin BTC
How many times the BTC close stands above or below its 200-day moving average.
Latest daily observationClosed day
- Mayer Multiple
- 1.0955
- 200 DMA
- $72,978.27
- 200 DMA x 2.4
- $175,147.85
- 200 DMA x 0.8
- $58,382.62
- Bitcoin price
- $79,949.93
Observation: UTC. Dataset updated: .
Updated daily, normally at 08:30 Europe/Madrid. Daily resolution.
Data cross-checked. Computed from the validated daily BTC close (200-day simple moving average, 0.8 and 2.4 times it). BTC price: cross-checked against Bitstamp daily BTC/USD close (independent exchange) (median difference 0.14% over 5,549 days (2011-08-18 to 2026-10-26); 95% of days within 1.78%). Checked 2026-10-27. Data status
Recent daily values
The last seven closed UTC days. These values remain daily when you change the chart range.
| Date (UTC) | Mayer Multiple | 200 DMA | 200 DMA x 2.4 | 200 DMA x 0.8 | Bitcoin price |
|---|---|---|---|---|---|
| 2026-10-26 | 1.0955 | $72,978.27 | $175,147.85 | $58,382.62 | $79,949.93 |
| 2026-10-25 | 1.0974 | $72,937.47 | $175,049.92 | $58,349.97 | $80,038.91 |
| 2026-10-24 | 1.1071 | $72,892.70 | $174,942.47 | $58,314.16 | $80,699.31 |
| 2026-10-23 | 1.1108 | $72,849.49 | $174,838.76 | $58,279.59 | $80,924.18 |
| 2026-10-22 | 1.1163 | $72,788.58 | $174,692.59 | $58,230.86 | $81,257.02 |
| 2026-10-21 | 1.1574 | $72,726.90 | $174,544.57 | $58,181.52 | $84,176.08 |
| 2026-10-20 | 1.1412 | $72,642.50 | $174,341.99 | $58,114.00 | $82,898.91 |
Formula
200DMA = average of the last 200 daily closes. Mayer Multiple = close / 200DMA. Bands on the price axis: 0.8 × 200DMA and 2.4 × 200DMA. The first reading is on 2011-02-02, 200 days after our price history begins.
How to read it
The Mayer Multiple compares each day's Bitcoin close with the average of the last 200 closes, a little over six months of trading. A reading of 1 means price sits exactly on that average, 2 means twice as high, 0.5 means half. On the price axis we draw the 200-day average itself together with two bands, 0.8 and 2.4 times the average, the levels Trace Mayer proposed for stretched-low and stretched-high conditions; on the indicator axis the same three levels appear as dotted lines under the multiple.
Most days fall between the bands: on our closes since February 2011, about 6% of days closed above 2.4 times the average and about 17% below 0.8 times. The stretches above the upper band cluster around the euphoric phases of 2011, 2013, late 2017 and early 2021, with readings of about 13 in June 2011, 6.5 in November 2013, 3.8 in December 2017 and 2.8 in January 2021. Closes under the lower band arrived in the deep sell-offs: late 2011 (as low as 0.23), January 2015 (0.40), December 2018 (0.51), March 2020 (0.57) and June 2022 (0.48). Price has not closed above the upper band since March 2021; the highest reading of the current cycle was about 1.85, in March 2024.
Because the window is only 200 days, the average catches up with price within months, so the multiple drifts back toward 1 even when a trend carries on, and it flags how stretched the market is rather than where a turn will be. Each cycle has reached a lower peak multiple than the one before, which suggests the upper band may matter less as the market grows.
Limitations
- Built from one daily close per day (Coin Metrics Community Data). Glassnode builds its price from a volume-weighted average across exchanges, so the lines can differ slightly; recomputed from Bitstamp's daily closes since 2015, our 200-day average differs by a median 0.02% and the multiple by a median 0.12% (95% of days within 0.7%).
- The 0.8 and 2.4 levels were picked by looking back at Bitcoin's own price history, so they describe past cycles and may not hold in future ones.
- The first 200 days of price history serve only as the first window, so the chart starts in February 2011 and its earliest readings rest on very thin trading.
Historical examples
Selected mechanically: the lowest and highest closed-day Mayer Multiple in the available history (2011-02-02 to 2026-10-26). These are observations, not forecasts or trading signals.
2011-06-08
Mayer Multiple: 13.0716.
Bitcoin price in the same daily row: $29.03. This is a descriptive reference point in this dataset; it does not establish a market top, bottom or future return.
Download these closed daily observations (JSON)
Source: Computed by Black Almanak from the validated daily BTC close (200-day simple moving average, 0.8 and 2.4 times it). Price source: Coin Metrics Community Data (CC BY-NC 4.0). Price-only metric with daily closes since 2010-07-18; the 200-day average starts in February 2011. Methodology and sources.