Miner Capitulation Index Hits New Low for 2026, Enters Historic Undervalued Range

BlockBeats News, July 6th, the Miner Capitulation Cycle Pressure Composite Index has dropped to a new low in 2026 and deep into the "undervalued" range. This index combines the Puell Multiple with the Miner Capitulation Index, as these two indicators reflect miner revenue and cost pressure, their synchronized movement is considered to be more effective in identifying Bitcoin's cyclical tops and bottoms than a single indicator.

Historical data shows that this composite index has synchronously plunged into the extreme range near Bitcoin's major bottoms in 2015, 2018, 2020, 2022, and 2024. Among them, the index only dropped to 0.00 in 2015 during the miner capitulation phase when the Bitcoin price plummeted from around $300 to $160 in less than a week. This index is currently showing a similar signal again, reflecting that miners are facing historically rare operational pressure.