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I'm monitoring Mayer's multiple of Bitcoin and the situation is interesting right now. The indicator is approaching that level where historically BTC is quite undervalued, you know? With the price around 80.9K, it's a moment to keep an eye on before the Fed's decision.
Mayer's multiple basically shows when the price is detached from the 200-day moving average. When it gets too low, it's usually a sign that the market might be overdoing the decline. We're getting close to that point now.
It's not a guarantee of anything, but historically when the indicator hits these levels, it's good to stay alert. The timing with Fed policy makes this even more relevant. Let's see how it unfolds in the coming days.