Bitcoin miner health index rises above 20%, signaling post-capitulation recovery

Miner health index at 27.7%, near 20% capitulation mark

On-chain data flags rising miner stress. CryptoQuant shows the 7D-SMA Miner Financial Health Index at 27.7%, close to the historic 20% line. The Bitcoin price path could improve if the recovery pattern holds, per NewsBTC analysis.

Analyst MorenoDV reported a “dynamic shift” among miners on April 18 in a CryptoQuant Quicktake post.

The index blends four drivers:

• Hashprice
• Block profitability
• Fee share
• Total miner revenue

A fall to 20% has marked tougher conditions. Less fee support. Weaker rewards. See context on miner selling pressure in NewsBTC.

History rhymes. Sustained readings near this zone in 2019, 2020, and 2022–2023 lined up with late-stage capitulation, when weaker miners exit, per CryptoQuant.

Now the index sits above 20% and is rising. The analyst says that often signals the forced-selling phase is “being swallowed up,” as marginal players leave and economics stabilize, per NewsBTC and CryptoQuant.

Watch the index trend. Prior transitions coincided with fading bearish momentum, per CryptoQuant.

As of writing, Bitcoin trades near $75,829, down ~2% in 24 hours.