Hash rate rebound signals positive signs for the Bitcoin market
Publication Time:2024-07-24 17:27:06
According to Matrixport's latest analysis, Bitcoin mining hash rate as an important indicator reflecting the market's health status, its recent rebound phenomenon suggests that the market may be experiencing a positive change. This echoes a similar situation a year ago when the hash rate predicted a drop in Bitcoin's price in May 2024. Although some miners are facing challenges due to mismatches between operational costs and revenues, reducing the operation of their equipment, the rise in hash rate indicates that the pressure on the miner community is within manageable limits. It is worth noting that, despite a decline in daily income levels for miners, currently at $32 million, which is below the peak of $73 million seen before and after the halving in April 2024, this has not deterred the overall positive trend of the market.
Bitcoin
Market recovery
Hash rate
Miner pressure
Daily income