[Analysis: Bitcoin Miner Cycle Pressure Composite Index Drops to a New Low in 2026, Entering Historical Undervaluation Range] According to Bitcoin News citing analyst @gaah_im, the Bitcoin Miner Cycle Pressure Composite Index has dropped to a new low in 2026, entering the historical 'undervaluation' range. This index combines the Puell Multiple and the Inverse Miner Capitulation Index, which respectively measure miner revenue and cost dynamics. Their synchronized signals have historically shown strong indicative significance for Bitcoin cycle bottoms. Previously, this composite index collapsed synchronously near major Bitcoin bottoms in 2015, 2018, 2020, 2022, and 2024. The only time this composite index ever touched 0.00 was during the capitulation in 2015, when Bitcoin fell from approximately $300 to $160 within a week. The index's similar behavior in 2026 marks miner pressure reaching historically rare levels once again.