2-Year MA Multiplier

Philip Swift's Bitcoin Investor Tool, with data from CoinGlass, plots Bitcoin's price against two long-horizon rails: its 730-day (2-year) moving average in blue and that same average multiplied by 5 in red. Price has spent most of its history between the two. Stretches below the 2-year average have historically lined up with cycle lows, and pushes above the ×5 rail with cycle peaks. The Risk Level line turns the price-to-average ratio into a 0-100 reading on the blue-to-red heat scale: a ratio of 0.5 reads 0, the coldest prints of past bear markets, and a ratio of 5, the ×5 rail itself, reads 100. It describes where price sits within its long-term range, not where it goes next, and past cycles are no guarantee of future ones.