In Ghost of Yotei, the Cave Path hot spring is situated in the northern half of the Nayoro Wilds, specifically along the western border in the Iwor Mountains. The starting point for the climb is just south of the marker labeled “Iwor” on the in-game map. Here's a step-by-step guide to reaching it.
How to reach the Cave Path Hot Spring step by step
Step 1
Navigate to the general area within the Iwor Mountains in Nayoro Wilds.

Step 2
Begin a climb involving a series of cliffs. Use grapple logs placed strategically to swing and ascend.

Step 3
Utilize fixed handholds on the cliff walls to continue climbing upwards.

Step 4
Balance and walk carefully across a log beam that bridges parts of the cliff path.

Step 5
Reach the cave entrance at the top of the cliffs and head inside.

Step 6
Inside the cave, choose the right-hand path (the left path leads to an Altar of Reflection pool).

Step 7
Follow the right path, which requires another handhold climb up a rock wall.

Step 8
Arrive at the Cave Path Hot Spring at the end of this passage.

Hot springs in Ghost of Yotei let Atsu rest and reflect, and doing so rewards her with a permanent increase to maximum health. Finding all 16 hot springs is also tied to the Body, Mind, and Spirit trophy.
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