PANews reported on July 8 that CryptoQuant analyst Axel Adler Jr. pointed out that Bitcoin's current Mayer Multiple indicator is 1.1 times, indicating that its price is still in a reasonable range compared to the 200-day moving average and is far from overheating. This means that Bitcoin's current price is at a certain discount to its historical bull market high, indicating that it is undervalued and may provide momentum for the next round of increases.

It is reported that Mayer Multiple is a classic market analysis tool used to measure whether the price of Bitcoin is overvalued or undervalued.