Data: The Bitcoin miner cycle pressure composite index has fallen to a new low for 2026 and has entered the historically undervalued range

By: rootdata|2026/07/06 00:42:08

According to Bitcoin News, analyst @gaah_im reported that the Bitcoin miner cycle pressure composite index has fallen to a new low for 2026, entering the historically "undervalued" range. This indicator combines the Puell Multiple and the inverse miner capitulation index, both of which measure the dynamics of miner income and costs, and their synchronous signals have historically been strong indicators of Bitcoin cycle bottoms.

Previously, this composite index has synchronized crashes that occurred near major Bitcoin bottoms in 2015, 2018, 2020, 2022, and 2024. The only previous time this composite index touched 0 was during the capitulation period in 2015, when Bitcoin fell from about $300 to $160 within a week. This indicator is exhibiting similar behavior in 2026, marking that miner pressure has once again reached a historically rare level.

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