Bitcoin miner capitulation metrics are nearing levels seen during the market bottom after the FTX crash in late 2022, according to CryptoQuant. This could signal a potential bottom for Bitcoin. Miner capitulation is when miners scale back operations or sell some of their Bitcoin to stay afloat. Over the past month, Bitcoin's price fell 13% from $68,791 to $59,603, with a significant drop in Bitcoin's hashrate, the computational power that secures the Bitcoin network. Miners have seen a 63% decrease in daily revenues since the halving, forcing them to use their reserves to earn yield. This, along with sales from Bitcoin whales and governments, has contributed to Bitcoin's recent price drop.