The $BTC Mayer multiple has entered capitulation territory, a level historically observed when market panic reaches extremes and prices fall below their long-term average. Historically, when prices enter capitulation territory, upward momentum often begins to build in the following days—meaning position adjustments typically begin at these levels. This doesn't guarantee an immediate price increase, but it usually signals that savvy investors are starting to accumulate positions while market sentiment remains weak. Market volatility follows cycles, not emotions. #Bitcoin #BTC #Cryptocurrency #On-chainTransactions {spot}(BTCUSDT)