Analysis: BTC could fall to $40K in repeat of 2022 bear market

Bitcoin's Mayer Multiple has dropped to 0.65, its lowest level in four years, raising the possibility of a further decline to $40,000 if the 2022 market situation repeats, Cointelegraph reported. However, a Mayer Multiple between 0.6 and 0.8 has historically been considered one of the best long-term buying opportunities. The index compares Bitcoin's current price to its 200-day moving average, with a reading below 2.4 generally seen as a buy signal.