Bitcoin's hashrate drawdown, a measure of the network's computing power, has dropped to lows not seen since December 2022, suggesting a potential price bottom for the cryptocurrency. Other metrics like Bitcoin Exchange Reserve, Miners Position Index, and Bitcoin Miner Reserve also indicate low selling pressure. Recent weeks have seen signs of miner capitulation, hinting at potential buying opportunities for Bitcoin. Meanwhile, Bitcoin miner withdrawals have fallen by up to 90% post-halving, reducing selling pressure and potentially paving the way for price increases. However, a report from Cantor Fitzgerald warns that some major mining companies could become unprofitable post-halving if Bitcoin's price drops to $40,000.