Just been watching the miner outflows and honestly it looks like we might be near the end of one of the longest mining capitulations in recent history. For those not familiar, capitulation basically means miners are selling their BTC at a loss because they can't afford to hold anymore - when you see this happen at scale, it usually signals the market's gotten pretty brutal.

The thing about capitulation is it tends to mark a bottom. Miners are the most rational actors in crypto since they have real operating costs, so when they finally give up and dump, it's often a sign retail panic has already peaked. I've been tracking the data and the selling pressure from mining operations seems to be easing, which could mean we're close to that inflection point.

What makes this capitulation cycle interesting is how long it's dragged on. Normally these things play out faster, but this time miners held on way longer than expected. Now that we're seeing signs it might be wrapping up, I'd be watching for stabilization in both miner revenue and BTC price action. Historical patterns suggest once capitulation ends, you usually get a relief rally pretty quick.