On January 24th, according to Glassnode data, the Bitcoin Mayer Multiple shows that the current price is close to the 200-day moving average, and historical data indicates that it may experience severe fluctuations. The data shows that Bitcoin's current 60-day price range is very narrow. Historically, this tight price range has often heralded sharp fluctuations. It is reported that the Mayer Multiple is an oscillator calculated by the ratio of Bitcoin's price to its 200-day moving average (200DMA). Historical data shows that when the Mayer multiple is greater than 2.4, it means overbought, and when it is less than 0.8, it means oversold.