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ReadsPrice & TrendIs Bitcoin below its two-year average price?

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.

Updated 22 hours ago
maketomaketo.com/indicator/two-year-ma0.005.0010.0015.0020122014201620182020202220242026TODAY0.71

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.

  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?

    $87K
    Two-year average
    1× the average — under it has been the cheap side.
    $62K
    Price now
    0.71× the two-year average.
    $437K
    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.