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Bitcoin$63,047.98+0.39%NeutralNews

BITCOIN 2-YEAR MA MULTIPLIER

Is Bitcoin below its two-year average price?

Comparing today's price to its average over the last two years. Below that line has historically been a patient buying window.

Usually daily
Bitcoin price compared with its two-year average over time chartmaketomaketo.com/bitcoin/two-year-ma0.005.0010.0015.0020122014201620182020202220242026TODAY0.72

1× means the price sits exactly on its two-year average. Below 1× has been the cheap side; readings several times the average have marked overheated peaks.

Latest displayed reading: 0.72 on Aug 14, 2026. This view shows 5,144 dated readings from Jul 15, 2012 to Aug 14, 2026. The latest displayed reading is lower than the first. The displayed low is 0.41 on Nov 21, 2022. The displayed high is 17.90 on Apr 9, 2013. Every day in this range has a reading.

Inspect a chart date

Arrow keys move one plotted point. Home and End jump to the first and latest points.

  • Price divided by its two-year average (selected): 0.72

  1. Is Bitcoin below its two-year average price?

    Cheap — near its lows

    Bitcoin is trading below its two-year average — one of the cheaper readings in its whole history, the patient low-side level that has lined up with past lows.

  2. Is that unusual compared to the past?

    Lower than it has been 87% of the time across its whole history.

    CheapStretched

  3. What do cheap and stretched look like in dollars?

    $88K
    Two-year average
    1× the average — under it has been the cheap side.
    $63K
    Price now
    0.72× the two-year average.
    $438K
    Stretched above
    5× the average — past peaks have run into this zone.

  4. What’s changed lately?

    • Lately the multiple has been easing — price slipping versus its two-year average.
    • Price is still under its two-year average — the cheap side of the cycle.

  5. What would change this read?

    • If price keeps sliding below its two-year average, it sinks deeper into the zone that has marked past lows.
    • If it climbs toward several times that average, it moves into the stretched territory seen near past tops.
How much profit is the market sitting on? →
The cycle read from unrealized gains.
Priced above or below what people paid? →
Another cheap-or-expensive gauge.
How far below the all-time high? →
Distance from the last peak.
What did people actually pay? →
The network's average buy price.

Understanding 2-Year Moving Average Multiplier

The 2-Year Moving Average Multiplier compares Bitcoin's price to its average over the past two years. When price trades below that two-year average, the multiple drops under 1 — historically a patient, low-side level.

At the other extreme, past cycle tops have pushed price to roughly five times that two-year average. The space between 'below the average' and 'five times it' has framed most of Bitcoin's cycles.

It's a slow, big-picture gauge — it moves in years, not days. Below the average has marked long-term buying windows; far above it has marked peaks. Best read alongside the other cycle measures.