Bitcoin (BTC) price has remained almost below $70,000 (USD) since Thursday, February 5, 2026. That’s more than a 45% discount from the all-time high of $126,000 set in October. According to Mayer Multiple, this scenario represents attractive buying territory.
This indicator decreased to 0.6 points, rarely observed in history. The only times it fell below this threshold were in 2022, 2018-2019, during the winter crypto declines of 2015, and at the beginning of the coronavirus pandemic in 2020.
The Mayer multiple is an indicator of Bitcoin’s current price divided by its 200-day simple moving average. In this way, we calculate whether an asset is relatively overvalued or undervalued compared to recent long-term historical trends.
When the multiple is 1, the price matches its long-term historical average. A higher number indicates that the asset is trading above its structural trend, and a lower number indicates the opposite. The 2.4+ zone typically corresponds to the top of a bullish cycle. Instead, Levels below 0.8 coincided with the region of minimum values About a bearish period.
It is worth clarifying that the signals provided by this indicator are long-term. Therefore, even a low number does not exclude the possibility that Bitcoin will fall further and the price will fall in the near future. Until there is an eventual sustained recovery, markets are likely to remain depressed or experience increased volatility.
Risk avoidance in the Bitcoin market
current setbacks Occurs in situations of greater risk aversion. Bitcoin has shown correlation with the technology stock market, which has experienced some declines, including the Nasdaq 100 index and artificial intelligence stocks. The geopolitical threat of tariffs and uncertainty regarding the impending change of Federal Reserve president are contributing to this scenario.
Additionally, Bitcoin has historically completed a bull cycle in the year following a halving, when the amount of money in circulation is halved. This means that if this pattern repeats, 2026 will be a bearish year, which could impact market sentiment.
According to the Mayer index, Other indicators such as Puel multiple are also showing buy signals. In particular, the current decline has expanded to the so-called “discount zone,” which has continued since November. As reported by CriptoNoticis, it was a good time historically for such areas to accumulate.
Analyst James Ford says that in this bearish season, “a smart DCA strategy will pay off big in the long run.” This technique averages out the total cost by making multiple purchases over a period of time. “Although we cannot predict the exact amount of funding, we can plan to allocate it strategically,” he stressed.
Nevertheless, this plan is not without risks, including the impact on developments and markets due to geopolitical and macroeconomic conditions. At the end of the day, Bitcoin’s recovery, like any other financial asset, depends on supply and demand.
