Matrixport: Bitcoin mining hash rate rebounds, Bitcoin outlook improves

ChainCatcher message, Matrixport released a chart stating that the Bitcoin mining hash rate has historically been a directional indicator for Bitcoin price increases, as evidenced by the situation a year ago when the Bitcoin mining hash rate predicted a drop in Bitcoin in May 2024.

Recently, some miners have shut down their equipment due to poor earnings. However, the rebound in hash rate indicates that the pressure on miners may be limited. Nevertheless, miners' daily income remains very low, at only $32 million, compared to $73 million around the halving date on April 20, 2024.