Bitcoin Bullish Signals Emerge Amid Mayer Multiple Decline

Bitcoin and digital asset quantitative fund Capriole's founder, Charles Edwards, has indicated that bullish signals for Bitcoin are emerging. According to ChainCatcher, the Mayer Multiple for Bitcoin has rarely dropped to around 0.6. Although there is potential for further price declines, historical data suggests this range often represents one of the most attractive buying opportunities for Bitcoin. The Mayer Multiple is a technical indicator used to analyze Bitcoin market conditions, introduced by Trace Mayer. It assesses the market's relative valuation by comparing Bitcoin's current price to its 200-day moving average (200DMA). Historically, when the Mayer Multiple exceeds 2.4, it often signals an overheated market, potentially leading to a correction or bear market. Conversely, when the Mayer Multiple falls below 0.8, the market may be undervalued, presenting a favorable buying opportunity.