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Crypto analyst Lark Davis pointed out that the Bitcoin Puell Multiple indicator shows pressure on miners and the market is approaching the bottom of this cycle. This indicator measures profitability by tracking the ratio of miners' daily income to their 365 day average. Low miners' income and BTC selling behavior typically correspond to cyclical lows. Lark Davis stated that although the indicator has not yet reached the green oversold range, signals of pressure on miners have emerged, and whether $59000 can be held as the low point for this round will be seen in the coming months.