Selling Pressure on Bitcoin Miners Has Declined Significantly: What Does This Mean?
Photo: Bitcoin Sistemi
As Bitcoin miners begin to overcome the financial pressure they have experienced in recent months, the recovery in network processing power and mining revenue has significantly eased selling pressure. According to a recent report published by the on-chain analytics platform CryptoQuant, Bitcoin (BTC) miners are showing signs of emerging from their long-standing difficult period. The total processing power (hashrate) of the Bitcoin network has risen from 899 EH/s recorded on July 31st to 962 EH/s. The rate of decline in hashrate has also narrowed from 18 percent on July 28th to 13 percent.
Source: Bitcoin Sistemi
