📈⛏ $BTC #Matrixport : Hash Rate Rebound Signals Better Bitcoin Outlook

The Bitcoin Mining Hash Rate has historically served as a leading indicator for Bitcoin rallies, as seen a year ago, and it also signaled a potential decline in May 2024. Recently, some miners appear to have shut down unprofitable machines. However, the rebound in the Hash Rate suggests that miner stress may be limited.

Despite this, daily miner revenue remains low at $32 million, compared to $73 million around the April 20, 2024, halving day.