Bitcoin's critical support level is holding at $85,000. The Mayer Multiple—a key on-chain metric measuring price relative to long-term moving averages—just touched 0.8 for the first time in this cycle, signaling a potential bottom formation. This confluence of price support and technical indicators suggests a strong floor for the current market cycle. Traders monitoring pullback opportunities should keep this $85,000 level marked; historically, when the Mayer Multiple reaches such lows, it often precedes significant recoveries or consolidation phases. The indicator's signal is worth watching as we navigate through the cycle's critical juncture.