Crypto
Bitcoin miner profitability indicator plunges, resembling past bottom zone
A composite indicator tracking stress on bitcoin miners’ revenue fell to a new low in 2026 and entered an undervalued zone. Onchain analyst Gaa Im said the measure has dropped to levels that in the past coincided with cyclical turning points in bitcoin’s price. He cited 2015, 2018, 2020, 2022 and 2024 as similar episodes. The indicator’s deterioration also aligns with bitcoin’s decline since its October 2025 all-time high.
