📉 Bitcoin's Mayer Multiple, a key price indicator, has hit an eight-month low, suggesting a "healthy reset" to bullish sentiment. Despite a recent 17% dip and a bearish mood, this indicator hints at a potential recovery. The Mayer Multiple measures Bitcoin's current price against its 200-day moving average. The current reading is 1.05, the lowest since October 2023. To hit the "buy" territory of 2.4, Bitcoin would need to be nearly $140,000. So, while the crypto world is in a tizzy, the Mayer Multiple is chilling at the bar, saying, "Relax, folks. I've seen this before." 😎