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Analysis: Bitcoin Miner Cycle Pressure Composite Index has fallen to a new low for 2026 and has entered the historical undervaluation range.

MeNews
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ME News message: On July 6 (UTC+8), the Bitcoin miner cycle pressure composite index has fallen to a new low in 2026, entering the historical “undervalued” range. This indicator combines the Puell Multiple and the reverse miner capitulation index, which respectively measure miner revenue and cost dynamics; historically, their concurrent signals have been strong indicators of Bitcoin cycle bottoms. Previously, concurrent crashes of this composite index occurred near major Bitcoin bottoms in 2015, 2018, 2020, 2022, and 2024. The only previous time this composite index touched 0.00 was during the 2015 capitulation, when Bitcoin dropped from about $300 to $160 within a week. In 2026, this indicator has shown similar behavior again, marking miner stress reaching historically rare levels once more. (Source: PANews)
BTC0.71%
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