I agree that the decline in hashrate could be a good sign as producing BTC at this prices isn't profitable anymore. That means mining equip has to be shut down, which lowers supply and results in an increasing price.
Hashrate is churning 6.32 blocks per hour. That's not declining. That's normal.
'Churning' is the right term. The swings are wild. Between 180 PH and 280 PH in 20 days.