Odaily Planet Daily reports that data shows that as of February 9, the Bitcoin “Mayer Multiple” indicator has dropped to 0.65, below the oversold level of 0.8, marking the first time since May 2022. This indicator provides buy and sell signals by comparing Bitcoin’s current price to its 200-day moving average. Its founder, Trace Mayer, previously considered below 2.4 as a “buy” zone. However, extremely low levels do not always mean the price has bottomed out. In mid-2022, the indicator fell to 0.47, but BTC then declined about 58% over the following four months. This suggests that current BTC/USD could still test the 200-week moving average. Additionally, the Relative Strength Index (RSI) indicates that Bitcoin may further decline, potentially even dropping to the $40,000 range in extreme cases. (Cointelegraph)
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
AI Just Delivered the Hardest Blow to Bitcoin Yet
For fifteen years, Bitcoin was the sole top-performing asset class on the planet. It survived regulators, exchange outages, and the never-ending predictions of its death. But now, the threat is no longer regulators or bankers. The threat is now artificial intelligence, and the problem is
CaptainAltcoin18m ago
BTC breaks through 72000 USDT, 24-hour increase of 1.87%
Gate News report: On March 15, according to certain CEX market data, BTC broke through 72000 USDT, currently trading at 72007.7 USDT, with a 24-hour gain of 1.87%.
GateNews48m ago
Bitcoin Beats Stocks as STRC Signals $776M BTC Buying Potential
Bitcoin (CRYPTO: BTC) edged higher across the week, bucking a cautious, risk-off mood that has dominated broader financial markets amid ongoing geopolitical tensions in the Middle East and regional frictions. By Saturday, BTC had advanced more than 7% over the past week, trading near $70,625,
CryptoBreaking1h ago
BTC breaks through $72,000, intraday gain of 0.75%
Gate News reported that on March 15, BTC price broke through the $72,000 mark, with intraday gains reaching 0.75%.
GateNews1h ago
