- The Bitcoin Mayer Multiple indicator has reached 0.8 and this shows the market could shift during difficult times at $69.5K.
- Drawing support from the 200-day moving average at $86,900 creates short-term obstacles before potential accelerated market growth occurs.
- Market trends indicate a possibility for long-term price decline when values drop under $69,500 but a sudden price rise becomes likely after a breakout above $86,900.
Bitcoin continues to hold the attention of investors and analysts alike as market indicators point to significant technical developments. According to the Mayer Multiple chart Bitcoin seems to approach vital turning points in its valuation over the long term.
Bitcoin reached its market value of $76,270.13 on April 8, 2025 based on the data provided by Glassnode. A primary trend indicator called the 200-day moving average (200DMA) has its current value at $86,899.08.
Bitcoin Mayer Multiple at 0.8 Signals Key $69.5K Support
Bitcoin price evaluation against its 200-day moving average uses the Mayer Multiple metric which observers commonly track. Technical analysts of historical market trends recognized values under 1.0 as buy opportunities while market tops emerged when the Mayer Multiple exceeded 2.4. The 0.8 and 2.4 oscillator lines in this chart function to identify areas where the market shows both excessive expansion and depreciation.
The oscillator point at 0.8 signals $69,519.26 as its current position and this level rests just above the vital $69,500 resistance area. Previous price movements near this threshold area resulted in accumulation patterns so it may become a base level for market reversal during bearish momentum. The importance of this level increases because it stands near the regions where previous market reactions took place.
Breakout Above $86,900 May Precede Major Rally
At the upper end of the chart, the 200DMA near $86,900 serves as a near-term resistance marker. Clearing the 200DMA at $86,900 could establish a new significant price ceiling at the 2.4 oscillator value which predicts a market value of $208,557.79 based on the Mayer Multiple model.
The market indicates overheating behavior when prices approach these points since such occurrences commonly imply upcoming market tops.The cryptocurrency price may begin a new increase if it maintains its position above $86,900 yet sustained movements below $69,500 would potentially trigger prolonged downward trends.
