Bitcoin News Today: Mayer Multiple: Bitcoin's 'Fuel Reserve' Powers $180K Climb

Bitcoin's price trajectory has drawn significant attention as on-chain metrics suggest the cryptocurrency remains far from overbought conditions. The Mayer Multiple, a widely followed indicator that compares Bitcoin's price to its 200-week moving average, currently stands at 1.16, well below the historical overbought threshold of 2.4. Analysts argue this suggests Bitcoin could climb to approximately $180,000 before signaling exhaustion in this bull cycle Full Source Title^[1].

The Mayer Multiple's reading of 1.16 indicates Bitcoin is trading in a "neutral to oversold" range, according to on-chain data from platforms like Checkonchain and Glassnode. This level is historically associated with strong accumulation phases, where institutional and long-term investors typically enter the market. For the indicator to reach the overbought level of 2.4, Bitcoin would need to surpass $180,000, a target frequently cited by analysts Full Source Title^[2]. Crypto quant analyst Frank A. Fetter highlighted this dynamic, noting that the current setup reflects a "healthy growth phase" with substantial upside potential Full Source Title^[3].

This bull market has diverged from previous cycles by avoiding sharp, parabolic price spikes. For example, the Mayer Multiple peaked at 1.84 in March 2024 when Bitcoin traded near $72,000, a level still below the 2.4 overbought threshold observed during the 2017 and 2021 market tops Full Source Title^[4]. Analysts like Axel Adler Jr. have described the current reading of ~1.1 as a "good fuel reserve for a new upward impulse," reinforcing the idea that Bitcoin's price has room to rise before entering historically frothy territory Full Source Title^[5].

Market participants remain divided on timing. While the Mayer Multiple suggests a strong foundation for continued gains, short-term volatility is anticipated. October, traditionally one of Bitcoin's strongest months, could see price corrections of up to 10%, potentially pulling BTC back to $114,000 before resuming higher Full Source Title^[6]. Some traders, including Tony "The Bull" Severino, emphasize a 100-day window starting in late 2025 as critical for determining whether Bitcoin enters a parabolic rally or concludes its current bull cycle Full Source Title^[7].

Institutional adoption and macroeconomic factors further support the bullish case. VanEck Associates reiterated its $180,000 target for year-end 2025, citing rising capital inflows into U.S. spot BTC ETFs and corporate treasury holdings. As of October 2025, corporate treasuries hold nearly 950,000 BTC, valued at over $110 billion, while ETFs have recorded $54.97 billion in net inflows Full Source Title^[8]. These developments, combined with the absence of a blow-off top in this cycle, suggest a more measured and sustainable price increase compared to past bull runs Full Source Title^[9].

Despite the optimism, risks remain. The Mayer Multiple's lagging nature means it may not capture sudden shifts in market sentiment. Additionally, external factors such as regulatory changes or macroeconomic volatility could influence Bitcoin's trajectory. However, the current data aligns with a long-term bullish narrative, with most analysts expecting Bitcoin to remain in a bull market through at least October 2025 Full Source Title^[10].