The Bitcoin Miner Cycle Pressure Composite Index has fallen to a new low in 2026, entering a historically undervalued range

According to Bitcoin News citing analyst @ gaah_im, the Bitcoin Miners' Cycle Stress Composite Index has fallen to a new low in 2026, entering a historically undervalued range. This indicator combines Puell Multiple with the Reverse Miner Surrender Index to measure the dynamic income and cost of miners. The synchronous collapse of this composite index occurred near the main bottom of Bitcoin in 2015, 2018, 2020, 2022, and 2024. The composite index hit 0.00 during the surrender period in 2015, when Bitcoin fell from around $300 to $160 within a week. This indicator will reproduce similar behavior in 2026, and the pressure on miners will reach a historically rare level.