š° After a triple-bottom rebound in computing power, BTC has bounced back to 850M TH/sāhave miners truly surrendered?
According to CryptoBriefing, the entire BTC networkās hash rate rebounded after forming a triple bottom around 850M TH/s. This level has been tested repeatedly, suggesting that minersā pressure-tested threshold is located nearby. At present, BTC is trading at $78,526, down 0.94% over the past 24 hours. Network hash rate stabilization and the marketās slow, bearish drift create an intriguing contrast.
š” Impact assessment: Neutral. The hash rate rebound reflects network resilience, but energy-cost pressure has not eased, so itās not enough on its own to drive BTCās direction.
In-depth analysis
Why is a triple bottom important? Because the āhash-rate bottomā essentially comes from repeated tests of minersā shutdown price. If the same level is probed three times without breaking, it usually means higher-cost mining rigs have largely been flushed out, leaving mainly players on the left side of the cost curve. The 850M TH/s anchor is remembered by the marketābreaking below it would be the true āsurrenderā signal.
One-sentence translation: Miners havenāt been scared off, but they also donāt have the room to expandāthis industry is in a āsurvivorsā phase.
Market impact: Hash rate is a lagging indicator rather than a leading one. It reflects the past few monthsā minersā survival status in the $78,526 price range, and it does not forecast next weekās price. But historical patterns show that hash-rate bottoms often appear before price bottomsālate 2022 is a case in point. When on-chain fundamentals stabilize, it typically boosts confidence for medium- to long-term holders, while having little effect on short-term traders.
- Coins: BTC / ETH
- Direction: Neutral, slightly supportive resilience
- Duration: BTC 12 hours / ETH 24 hours
My take: With 70% confidence, I interpret this data point as neutral-to-stable. Verifiable logic: If over the next two weeks the hash rate stays above 850M TH/s and BTC does not fall below the $78,526.01 line, then the narrative of āminer surrender is overā holds. Conversely, if the price moves down and drags the hash rate to break through this level for the third time, then this logic falls apartāat that point, watch for selling pressure from miners. For ETH, the move is mainly correlated around $2,484, with a lower probability of an independent trend. If Iām wrong, lightly criticize meāIām only watching with a small position.
This article has no sponsorship from any project; the author does not hold the assets mentioned.
$BTC $ETH #BTC #ETH
š Historical backtest
- After something similar to āEuropean Central Bank issues a new statement on Bitcoin!ā (2024-02-22), BTCās 12h performance was -0.77%; the result was neutralā wrong prediction
# Mining company updates
ā ļø Not investment advice
According to CryptoBriefing, the entire BTC networkās hash rate rebounded after forming a triple bottom around 850M TH/s. This level has been tested repeatedly, suggesting that minersā pressure-tested threshold is located nearby. At present, BTC is trading at $78,526, down 0.94% over the past 24 hours. Network hash rate stabilization and the marketās slow, bearish drift create an intriguing contrast.
š” Impact assessment: Neutral. The hash rate rebound reflects network resilience, but energy-cost pressure has not eased, so itās not enough on its own to drive BTCās direction.
In-depth analysis
Why is a triple bottom important? Because the āhash-rate bottomā essentially comes from repeated tests of minersā shutdown price. If the same level is probed three times without breaking, it usually means higher-cost mining rigs have largely been flushed out, leaving mainly players on the left side of the cost curve. The 850M TH/s anchor is remembered by the marketābreaking below it would be the true āsurrenderā signal.
One-sentence translation: Miners havenāt been scared off, but they also donāt have the room to expandāthis industry is in a āsurvivorsā phase.
Market impact: Hash rate is a lagging indicator rather than a leading one. It reflects the past few monthsā minersā survival status in the $78,526 price range, and it does not forecast next weekās price. But historical patterns show that hash-rate bottoms often appear before price bottomsālate 2022 is a case in point. When on-chain fundamentals stabilize, it typically boosts confidence for medium- to long-term holders, while having little effect on short-term traders.
- Coins: BTC / ETH
- Direction: Neutral, slightly supportive resilience
- Duration: BTC 12 hours / ETH 24 hours
My take: With 70% confidence, I interpret this data point as neutral-to-stable. Verifiable logic: If over the next two weeks the hash rate stays above 850M TH/s and BTC does not fall below the $78,526.01 line, then the narrative of āminer surrender is overā holds. Conversely, if the price moves down and drags the hash rate to break through this level for the third time, then this logic falls apartāat that point, watch for selling pressure from miners. For ETH, the move is mainly correlated around $2,484, with a lower probability of an independent trend. If Iām wrong, lightly criticize meāIām only watching with a small position.
This article has no sponsorship from any project; the author does not hold the assets mentioned.
$BTC $ETH #BTC #ETH
š Historical backtest
- After something similar to āEuropean Central Bank issues a new statement on Bitcoin!ā (2024-02-22), BTCās 12h performance was -0.77%; the result was neutralā wrong prediction
# Mining company updates
ā ļø Not investment advice
