đ° The BTC hashrate just said itâs stopped falling, but $116.23K hasnât sparked a breakout?
A few days ago, we said Bitcoinâs hashrate had rebounded. Miners seem to have held up under pressureânow the price has pushed to around $116.23,034.57. But honestly, this rebound is quite different from the previous one. Minersâ revenue is directly tied to the Bitcoin price. While $116.23K looks high compared with $75K, it may still not have reached the threshold that would push miners to ramp up at scale. That means the hashrate rebound is more like adapting to the current high price rather than a guaranteed buy signal for further upside.
Why is this news important?
Miner activity directly affects Bitcoinâs security, and rising hashrate is usually seen as a bullish indicator. But this time thereâs a key change: minersâ revenue elasticity has increased. Back when Bitcoin was around $70K, hashrate growth could imply more buying demand. Now that the price is $116.23K, miners need much higher earnings before theyâre willing to deploy additional capacity. This suggests the price is no longer just a support factor for hashrateâitâs becoming the main driver. This is different from early 2024, when miners went on a mad expansion spree due to strong profitability. Back then, hashrate growth was the direct result of profits; now, profits require a higher price to materialize.
Impact on the market
In the short term, stable hashrate at elevated levels can support Bitcoin. But upward momentum depends mainly on the price itself. This means that if Bitcoin can continue to hold above $116.23K, miners may gradually add capacity, creating a positive feedback loop. However, once it breaks below the $116.23K-83K price range, miners may cut back their production as their revenue expectations adjustâputting pressure on hashrate again. You can look at the historical precedent from late 2023, when hashrate hit a bottom and rebounded. At that time, the price hovered around $80K, and miners didnât dare to launch a major push.
Trading ideas
đĄ A hashrate rebound near $116.23K provides support, but the price still needs further confirmation. If Bitcoin can hold above $116.23K for the next two weeks, miners may start recovering their expansionâimplying sustained strength in hashrate. But if the price drops below $80K, the rebound is very likely to be short-lived. If there are major rate hikes by global central banks or an escalation of geopolitical conflicts, this view would be invalid.
This article has no sponsorship from any project; the author does not hold the underlying assets mentioned in the piece.
$BTC $ETH #BTC #ETH
â ď¸ Not investment advice; forecasts are for reference only
#BitcoinNews|BitcoinHashrateTurnsHigherasPriceClears$85,000
A few days ago, we said Bitcoinâs hashrate had rebounded. Miners seem to have held up under pressureânow the price has pushed to around $116.23,034.57. But honestly, this rebound is quite different from the previous one. Minersâ revenue is directly tied to the Bitcoin price. While $116.23K looks high compared with $75K, it may still not have reached the threshold that would push miners to ramp up at scale. That means the hashrate rebound is more like adapting to the current high price rather than a guaranteed buy signal for further upside.
Why is this news important?
Miner activity directly affects Bitcoinâs security, and rising hashrate is usually seen as a bullish indicator. But this time thereâs a key change: minersâ revenue elasticity has increased. Back when Bitcoin was around $70K, hashrate growth could imply more buying demand. Now that the price is $116.23K, miners need much higher earnings before theyâre willing to deploy additional capacity. This suggests the price is no longer just a support factor for hashrateâitâs becoming the main driver. This is different from early 2024, when miners went on a mad expansion spree due to strong profitability. Back then, hashrate growth was the direct result of profits; now, profits require a higher price to materialize.
Impact on the market
In the short term, stable hashrate at elevated levels can support Bitcoin. But upward momentum depends mainly on the price itself. This means that if Bitcoin can continue to hold above $116.23K, miners may gradually add capacity, creating a positive feedback loop. However, once it breaks below the $116.23K-83K price range, miners may cut back their production as their revenue expectations adjustâputting pressure on hashrate again. You can look at the historical precedent from late 2023, when hashrate hit a bottom and rebounded. At that time, the price hovered around $80K, and miners didnât dare to launch a major push.
Trading ideas
đĄ A hashrate rebound near $116.23K provides support, but the price still needs further confirmation. If Bitcoin can hold above $116.23K for the next two weeks, miners may start recovering their expansionâimplying sustained strength in hashrate. But if the price drops below $80K, the rebound is very likely to be short-lived. If there are major rate hikes by global central banks or an escalation of geopolitical conflicts, this view would be invalid.
This article has no sponsorship from any project; the author does not hold the underlying assets mentioned in the piece.
$BTC $ETH #BTC #ETH
â ď¸ Not investment advice; forecasts are for reference only
#BitcoinNews|BitcoinHashrateTurnsHigherasPriceClears$85,000
