Bitcoin Remains Steady At 121K As Mayer Multiple Indicator Predicts $180k Possibility
At this moment, Bitcoin (BTC) is trading a tad below its all-time high of $126,080 at
, yet predictions indicate it’s far from being in a bubble.
Based on the Mayer Multiple, an on-chain indicator that measures BTC’s price in relation to its 200-week moving average, the existing figure stands at just 1.16, significantly under the 2.4 mark generally indicative of trading market peaks.
Crypto Quant analyst Frank remarked, “Bitcoin is at record highs and the Mayer Multiple is extremely low.”
Bitcoin is at all-time highs and the Mayer Multiple is ice cold. I like the setup. $BTC pic.twitter.com/I5pNkydV2l
— Frank (@FrankAFetter) October 9, 2025
Historically, the Mayer Multiple has surged past 2.4 during speculative highs such as in 2017 and 2021. However, this cycle has been much milder, reaching a peak of 1.84 in March 2024, when BTC approached $72k according to Bitbo’s data.
(Source: Bitbo BTC Mayer Multiple)
Conversely, some analysts argue that a less aggressive reading compared to previous instances suggests a bull trading market that is more stable and sustainable.
Axel Adler Jr, a crypto analyst, echoed this perspective and posited that a 1:1 ratio is “an excellent fuel reserve for a fresh upward momentum,” agreeing that Bitcoin has a significant journey ahead until the market peaks.
Given the current upward trend BTC has experienced, expert opinions vary on timing. Some contend that the bull run could fizzle out if it does not exhibit a significant upward movement by year-end.
Others anticipate market fluctuation in October with potential drops to $114k before climbing higher.
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BTC Prediction: The Upcoming 100 Days Will Determine The Bull run
Trader Tony “The Bull” Severino projected a Bitcoin outlook where the crypto gold could be nearing a significant transition. He asserts that the forthcoming 100 days will determine whether it rises or stagnates.
To back up his claim, he pointed out the Bollinger Bands on BTC’s weekly chart, which have tightened up. This often indicates substantial price fluctuations are on the horizon.
Bitcoin’s weekly Bollinger Bands recently hit ledger tightness
For now, BTCUSD has failed to break out above the upper band with strength
According to past local consolidation ranges, it could take as long as 100+ days to get a valid upward movement (or breakdown, if Bitcoin dumps… pic.twitter.com/uCpcxvKzX1
— Tony “The Bull” Severino, CMT (@TonyTheBullCMT) October 8, 2025
Severino cautioned against “head fakes,” or misleading breakouts, noting that Bitcoin briefly hit 126k, its ATH, but was unable to sustain above the upper band, indicating a possible retreat before any resurgence.
Meanwhile, a Bitcoin “OG” executed a $438 million short on BTC via Hyperliquid. The trade occurred when BTC fell below $120k, with the liquidation level set at $139.9k.
The BTC OG has increased his short position to 3,600 $BTC($438M) — currently sitting on a $3.66M unrealized loss.
Liquidation price: $139,900https://t.co/01e3RC8jG2 pic.twitter.com/LrUfbzdf0p
— Lookonchain (@lookonchain) October 10, 2025
This large holder recently liquidated thousands of Bitcoin and redirected funds to Ethereum (Ethereum), suggesting a potential shift away from Bitcoin.
Despite this downtrend position, traders remain hopeful.
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Nevertheless, UK Investment Platform Cautions Investors To Avoid Bitcoin
A prominent UK investment protocol is urging its clients to be cautious as regulations surrounding crypto are loosening in the country.
As of 8 October 2025, the longstanding prohibition on retail investors purchasing ETNs (exchange-traded-notes) was lifted. These ETNs offer exposure to digital assets through regulated exchanges.
Hargreaves Lansdowne: ‘Bitcoin is not an asset class’
• UK’s largest investment protocol warns against incorporating crypto into growth/income portfolios.
• ‘No intrinsic value, high market fluctuation, performance assumptions impossible to analyze.’
• Despite recent regulatory modifications,…— Maya (@aiagentmaya) October 10, 2025
The shift prompted Hargreaves Lansdowne, the UK’s largest retail investment platform, to issue a statement, asserting, “The HL Investment view is that Bitcoin is not an asset class, and we do not believe crypto asset possesses qualities that justify its inclusion in portfolios for growth or income and it shouldn’t be relied upon to assist clients in achieving their financial objectives.”
“Performance expectations cannot be evaluated for crypto, and unlike other alternative asset classes, it holds no intrinsic value,” the firm further commented.
While BTC is currently trading just beneath its ATH, detractors have highlighted its price swings, particularly during the 2022 “crypto winter,” which eliminated $2 trillion in market capitalization.
Hargreaves Lansdowne concluded that “Although the long-term returns of Bitcoin have been favorable, BTC has endured several periods of severe losses and represents a highly volatile investment — significantly riskier than stocks or bonds.”
Nonetheless, it acknowledged that some clients may wish to engage in speculation. The company plans to introduce crypto ETNs to “suitable clients” starting in early 2026.
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Key Takeaways
- Bitcoin’s Mayer Multiple indicates it’s not overheated, with room for growth to $180K
- Hargreaves Lansdowne claims that BTC is not an asset class due to its absence of intrinsic value
- Narrow Bollinger Bands and mixed opinions from analysts suggest significant BTC volatility ahead
The post BTC Holds Firm At 121K With Mayer Multiple Indicator Forecasting $180k Potential appeared first on 99Bitcoins.
