quick take
Simply put, “realized price” refers to the total cost basis of all Bitcoins in existence, while the “Mayer Multiple” (MM) is the difference between Bitcoin’s current price and its 200-day moving average. is a tool to quantify This difference can be used to pinpoint historical trends that could herald the emergence of a Bitcoin speculation bubble, as outlined by Glassnode.
Historical data shows that Mayer multiples often fall below realized prices during bear market cycles. This downward trend shows the increasing severity of the bear market.
On the other hand, Mayer multiples typically surge above realized prices during market cycle changes, signaling the start of a new cycle. A recent example of this pattern was seen on his June 12th, when the Mayer multiple surpassed the realized price. The Mayer Multiple is currently valued at $14,951, just above the realized price of $14,251.
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