"📉 Bitcoin hashrate declining to levels not seen since December 2022 could indicate a market bottom has been reached. CryptoQuant data shows the true Bitcoin hashrate decline is -7.6%. Other indicators such as Bitcoin exchange reserve, miner position index (MPI) and Bitcoin miner reserve also indicate low selling pressure. Recently, a 90% decline in Bitcoin miner withdrawals after the halving indicates minimizing selling pressure from miners. However, if the Bitcoin price falls to $40,000, some of the world's largest miners. companies may be forced to give up."