Bitcoin remains far from being overbought, as indicated by the Mayer Multiple, which measures BTC's spot price against its 200-day moving average (MA). According to the analytics firm Glassnode, Bitcoin's current Mayer Multiple stands at 1.37, suggesting it is trading above its long-term average.
Historically, a Mayer Multiple above 2.4, corresponding to a price mark of $181,000, signals Bitcoin entering the overbought territory. Currently, the asset is trading around $106,600, reflecting its position over the 200-day MA yet distant from being overbought.
Glassnode's chart highlights distinct levels representing oversold and overbought conditions, with Bitcoin needing to breach $181,000 to become overbought in this cycle.
Nguồn: www.newsbtc.com ↗