Bitcoin miners' selling pressure has significantly decreased, with the Miners' Position Index dropping to a historic low of -1.04, indicating reduced decentralization. Meanwhile, the Puell Multiple has maintained a range between 0.56 and 0.98 for over 60 consecutive days, a pattern that historically often signals an imminent market bottom. However, analysts caution that these on-chain signals reflect reduced miners' selling pressure rather than increased demand, and therefore cannot definitively determine a price bottom. At the time of publication, Bitcoin was trading at approximately 68,686 USD.