Close Menu
CryptoHoppers.comCryptoHoppers.com
    What's Hot

    Texas Issues Emergency Cease and Desist Against Arkbit’s Crypto Operations

    May 30, 2024

    Bitcoin Bullish Flag Holds Steady Amidst Large-Scale Transfers

    May 30, 2024

    SWIFT and Chainlink collaborate for banking blockchain integration

    June 7, 2023
    Facebook X (Twitter) Instagram
    • Privacy Policy
    • Get In Touch
    Facebook X (Twitter) Instagram
    CryptoHoppers.comCryptoHoppers.com
    • News

      Bitcoin Makes History With Highest Monthly Close, But Volume Is Still Bearish

      July 3, 2025

      Dow, S&P 500, Nasdaq mixed as investors weigh tariff talks

      July 1, 2025

      Saylor Strikes Again: Strategy Bags Another 4,980 Bitcoin in Latest Buying Spree

      June 30, 2025

      Bitcoin Bears Are Taking Fresh Market Positions, But Are They Safe?

      June 29, 2025

      $430M in Transactions as Virtual Asset Payments Surge 630% in a Year

      June 28, 2025
    • Technology

      Comment on XRP ETF Race Heats Up As SEC Reviews Filings by BONK Memecoin Pumps Over 16% amid ETF-Driven Interest

      July 3, 2025

      Arizona Governor Hobbs Vetoes Digital Asset Reserve Bill, Stalling State Crypto Agenda

      July 2, 2025

      XRP ETF buzz boosts XYZVerse presale momentum as investors eye a potential breakout

      July 1, 2025

      Comment on Metaplanet Joins Top 5 Bitcoin Holders With 13,350 BTC as Stock Surges 10% by Hiko Arnold

      June 30, 2025

      Crypto Theft Surge: $2.1 Billion Stolen in First Half of 2025

      June 29, 2025
    • Learn/Guide

      Will the Bullish Trend Continue?

      July 3, 2025

      Coinbase acquires web3 startup Liquifi after $2.9B Deribit deal

      July 2, 2025

      Platform Utility meets Scarcity: How $Fun’s in-game demand boosts its price

      July 1, 2025

      Ripple-backed XRP Ledger launches EVM-compatible sidechain on mainnet

      June 30, 2025

      REX-Osprey Ethereum, Solana staked ETFs may launch soon as SEC raises no objections

      June 29, 2025
    • NFTs

      1mouth Analog: miirror’s Raw Leap from Digital to Handmade Chaos | NFT CULTURE | NFT News | Web3 Culture

      May 9, 2025

      NFTCulture Expands Into TCGs with Cardcore.xyz: Where Digital Collectibles Meet Competitive Play | NFT CULTURE | NFT News | Web3 Culture

      May 8, 2025

      From Moonshots to Broken Links: The Rise and Fall of CloneX | NFT CULTURE | NFT News | Web3 Culture

      April 24, 2025

      Pacific Spirit: Vinyl Meets Code in a Groundbreaking Generative Drop on Art Blocks | NFT CULTURE | NFT News | Web3 Culture

      April 16, 2025

      Daizen: Elevating the NFT Multiverse on Apechain Blockchain | NFT CULTURE | NFT News | Web3 Culture

      December 5, 2024
    • Regulation

      SEC Drops Binance Lawsuit: How Regulatory Clarity Could Spark a BNB Price Rally

      May 30, 2025

      Kentucky Governor Signs Off On ‘Bitcoin Rights’ Bill, Strengthening Crypto Protections

      March 31, 2025

      Utah Moves Closer To Bitcoin Reserve As Bill Advances To Senate Standing Committee

      February 23, 2025

      Bitcoin ETFs In Focus As Kansas Senator Proposes Up To 10% Pension Fund Allocation

      January 26, 2025

      MicroStrategy May Face Tax Issues Over $19 Billion Unrealized Bitcoin Gains: Report

      January 25, 2025
    • Business

      Sri Lanka’s E-commerce Platform Kapruka to Introduce Crypto Payments

      November 17, 2024

      Leading Eastern European Exchange Exmo Sells Business in Russia, Belarus

      November 16, 2024

      Bank of Russia to Launch Digital Ruble Payment Infrastructure by July 2025

      November 15, 2024

      Bitcoin Mining Company Mara Holdings Now Holds 26,747 Bitcoin: Q3 Earnings Report Reveals

      November 14, 2024

      Brazil Prepares to Let Tradfi Institutions Embrace Crypto

      November 13, 2024
    • Live Pricing
    CryptoHoppers.comCryptoHoppers.com
    Home » What Bitcoin’s rising hashrate means for BTC’s future
    Technology

    What Bitcoin’s rising hashrate means for BTC’s future

    September 13, 20233 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    What Bitcoin's rising hashrate means for BTC's future
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Journalist

    Posted: September 13, 2023

    • Bitcoin’s rising network hashrate signaled growing mining activity.
    • Growing whale interest and indicators implied volatility-influenced market sentiment.

    Bitcoin’s [BTC] price recently broke free from the $25,000 range, marking a positive shift in the cryptocurrency market. This price increase not only affected traders and investors, but also had repercussions for the broader crypto ecosystem.


    Read Bitcoin’s [BTC] Price Prediction 2023-2024


    Higher hashrate

    Bitcoin’s network hashrate, which represents the computational power securing the network, experienced significant growth of late. This uptick was a positive sign, as it demonstrated miners’ confidence in the Bitcoin network and its long-term prospects.

    Source: Glassnode

    However, it’s important to note that higher hashrates intensify competition among miners, potentially reducing individual rewards.

    With the transition from summer to cooler months, the strain on power grids often decreases. Factors like increased energy consumption due to cooling during hot summer months tend to subside as temperatures drop.

    In regions where Bitcoin mining operations consume significant amounts of electricity, this shift can be crucial. Changes in energy demand can impact the power grid’s stability and overall efficiency.

    Moreover, daily miner revenue has risen from $19 million to $23 million in recent weeks. This financial boost could reduce the pressure on miners to sell their BTC holdings immediately.

    When miners have more revenue, they can afford to hold onto their mined Bitcoin, reducing selling pressure on the market. This can contribute to a more stable Bitcoin price.

    Source: Blockchain.com

    Whale interest grows

    The growing interest of whales in Bitcoin was evident in Glassnode’s data, which revealed a record-high of 157,514 addresses holding 10 or more coins. While this suggested growing confidence in Bitcoin’s potential, it also raised concerns about market manipulation.

    Source: glassnode

    Notably, whale interest can impact Bitcoin positively by attracting institutional investment and boosting overall market confidence. Institutional involvement is often seen as a sign of maturity and legitimacy in the crypto space.

    However, the concentration of wealth in the hands of a few can lead to market volatility and potential price manipulation.

    Traders make their moves

    The put-to-call ratio for Bitcoin, despite its price increase, showed an upward trend. This ratio, reflecting the proportion of put options (betting on price declines) to call options (betting on price increases), can indicate market sentiment.

    A rising ratio may imply increased hedging against potential downturns. Traders typically use options for risk management, and a rising put-to-call ratio suggests uncertainty or caution in the market.


    Is your portfolio green? Check out the BTC Profit Calculator


    Bitcoin’s implied volatility (IV), a measure of expected price fluctuations, was on the rise at press time. High IV can signify uncertainty or expectations of significant price movements.

    Thus, though traders might see opportunities in such conditions, this metric also suggests a less stable market, which can deter institutional investors seeking more predictability.

    Source: The Block



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Comment on XRP ETF Race Heats Up As SEC Reviews Filings by BONK Memecoin Pumps Over 16% amid ETF-Driven Interest

    July 3, 2025

    Arizona Governor Hobbs Vetoes Digital Asset Reserve Bill, Stalling State Crypto Agenda

    July 2, 2025

    XRP ETF buzz boosts XYZVerse presale momentum as investors eye a potential breakout

    July 1, 2025

    Comment on Metaplanet Joins Top 5 Bitcoin Holders With 13,350 BTC as Stock Surges 10% by Hiko Arnold

    June 30, 2025
    Top Posts

    Bitcoin in Midst of Sustainable Uptrend As BTC Bears Face Brunt of Futures Liquidations, According to Glassnode

    March 3, 2024

    Japan’s Bitbank Expands with New Blockchain Investment Arm

    November 13, 2024

    India’s Ambiguous Crypto Policy: Time for Worldwide Unity

    December 17, 2024

    Welcome to CryptoHoppers.com! Stay informed with the latest updates, trends, and insights from the dynamic world of cryptocurrencies. From Bitcoin to altcoins, blockchain technology to decentralized finance (DeFi), we cover it all. Discover expert analysis, market trends, regulatory developments, and exciting innovations shaping the crypto industry.

    Top Insights

    Bitcoin Makes History With Highest Monthly Close, But Volume Is Still Bearish

    July 3, 2025

    Dow, S&P 500, Nasdaq mixed as investors weigh tariff talks

    July 1, 2025

    Saylor Strikes Again: Strategy Bags Another 4,980 Bitcoin in Latest Buying Spree

    June 30, 2025
    Advertisement
    Demo
    CryptoHoppers.com
    Facebook X (Twitter) Instagram
    • News
    • Technology
    • Learn/Guide
    • Regulation
    • NFTs
    • Business
    • Live Pricing
    © 2025. Designed by CryptoHoppers.com.

    Type above and press Enter to search. Press Esc to cancel.