Surge in hashrate follows BTC's historic bull run
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“After the halving, there was a noticeable decrease in hashrate, but with the replacement and upgrading of existing mining equipment, the hashrate began to trend upwards starting in July.” – ByCryptoQuant noted that after the halving in April 2024, there was a considerable fall in hashrate, but with the replacement and upgrading of existing mining equipment, the hashrate began to rise upward beginning in July.
Bitcoin treasury company MicroStrategy intends to accelerate purchases of the coin, and the launch of options on U.S. Bitcoin exchange-traded funds also lifted sentiment this week. In recent weeks, a group of a dozen U.S. ETFs that invest in Bitcoin had a net inflow of more than $6.8 billion. The group's overall assets surpass $100 billion.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst.
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