Been watching the hash rate charts lately and it's looking pretty interesting. We're seeing one of the longest mining capitulation cycles wrapping up, and historically when this stuff plays out, we tend to see some solid price action follow. The hash rate has been under pressure for a while now as miners got squeezed, but if the pattern holds, we might be closer to a local bottom than most people think. Hash rate recovery usually precedes price moves, so I'm keeping an eye on whether we start seeing those metrics stabilize. The mining landscape has been brutal, lots of smaller operations throwing in the towel, which is kind of the definition of capitulation. When you see the hash rate finally stabilize after a long decline like this, it's usually a signal that the worst is priced in. Not saying we moon from here, but the setup looks less dire than it did a few weeks back. Worth monitoring if you're thinking about accumulation levels.