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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

$96k Or $144k? Bitcoin Mayer Multiple Chart Price Target Options

Semilore Faleti
Semilore Faleti
2 hours ago
2 mins read
Bitcoin

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Bitcoin (BTC) has registered a slight uptick in the last few hours after US President Donald Trump announced a successful airstrike on Iranian nuclear facilities, a move aimed at de-escalating rising tensions in the Middle East after several days of conflict between Iran and Israel.

Despite the short-term price reaction, BTC remains in a corrective phase, having struggled to break through the $110,000 resistance level over the past month with market sentiment being largely shaped by both global uncertainty and technical stagnation.

Amid this backdrop, a crypto analyst with X pseudonym On-Chain College has highlighted two prospective price targets based on on-chain data.

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In a recent X post on June 21, On-Chain College shares a positive long-term Bitcoin price outlook using the Mayer Multiple, an on-chain metric that measures relationship between Bitcoin’s price and its 200-day moving average (200DMA).

By tracking key valuation bands, the Mayer Multiple helps determine whether Bitcoin is overvalued, undervalued, or fairly valued, based on historical price behavior. Since the bull market commenced in Q4 2024, Bitcoin has consistently moved between 1.0x band i.e. the 200DMA (blue line) and the 1.5x band (orange line) representing the mid price range zone. 

Bitcoin
Source: @OnChainCollege on X

Notably, the Bitcoin price struggles in the past have generated speculations of potential market top at the current market high. However, the Mayer Multiple chart shows that BTC has only ever attained a cycle price peak after hitting the 2.5x band (red line). Therefore, there is still room for price growth in the current bull market.

However, the immediate price targets for premier cryptocurrency lies at $96,000 (1.0x) or $144,000 (1.5x). Notably, there is significant potential to rediscover its bullish form and surge towards $144,000 in line with its defined-range bound movement. However, there are also equal chances of a return to $96,000 which On-Chain College states would aid in flushing out weak hands before a full-scale bullish price reversal.

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Bitcoin Price Outlook

At the time of writing, Bitcoin is valued at $102,700 following a 1.50% decline in the last 24 hours. Meanwhile, the maiden cryptocurrency also reports losses of 2.94% and 8.08% on the weekly and monthly chart, respectively.

According to CoinCodex, the general market sentiment remains neutral. However, CoinCodex analysts foresee an impending price breakout with an audacious projection of $136,472 within the next five days. Interestingly, it’s worth noting that this level may represent or come close to the cycle market top, as long-term forecasts include $138,379 in three months and $116,115 in six months.

Bitcoin
BTC trading at $102,831 on the daily chart | Source: BTCUSDT chart on Tradingview.com

Featured image from Pexels, chart from Tradingview

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Semilore Faleti
Semilore Faleti

Semilore Faleti

Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency.

Read more

Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems.

In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others.

In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies.

Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative.

Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information.

Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets.

Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends.

Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination.

He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society.

In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come.

His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry.

Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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