CryptoQuant analyst: Bitcoin price undervalued, expected to rise further

CryptoQuant analyst Axel Adler Jr. pointed out that Bitcoin's current Mayer Multiple indicator is 1.1 times, indicating that its price is still within a reasonable range compared to the 200 day moving average and far from reaching an overheated level. This means that the current price of Bitcoin has a certain discount from its historical bull market high, indicating that it is undervalued and may provide momentum for the next round of rise. It is reported that Mayer Multiple is a classic market analysis tool used to measure whether the price of Bitcoin is overvalued or undervalued.