VanEck's recent analysis highlights a 4% decline in Bitcoin's hashrate as of December 15, suggesting a potential market bottom. The firm notes that miner capitulation often precedes market recoveries. Analysts Matt Sigel and Patrick Bush point out that historical data since 2014 indicates a 65% probability of Bitcoin price gains within 90 days following a hashrate drop. This probability increases to 77% over 180 days, with an average price increase of 72%.