The current price of BTC is $108,000, still undervalued

The price of Bitcoin still has room to rise, as indicated by the Mayer Multiple. The Mayer Multiple is an oscillating indicator calculated by the ratio of price to the 200-day moving average.

It helps to determine whether Bitcoin is likely overbought, fairly priced, or undervalued. A higher multiple indicates that the BTC price is in a premium state, while the current lower price suggests that the token is in a discounted state.

The Mayer Multiple for Bitcoin is 1.1 times, only 10% above its 200-day moving average, far below the 1.5 times overheated range. This indicates that even when the BTC price is just a step away from its historical high, BTC is not overheated.

This suggests that even if the trading price of BTC reaches $108,000, its value still seems to be undervalued.