Bitcoin's hash rate hits an all-time high on its 16th birthday

Bitcoin turns 16 this year, and the world's oldest decentralized currency is experiencing a historic market cycle. After several days of strong bearish signals, its price briefly rose today as new data shows its hash rate has reached an all-time high.

The last Bitcoin halving occurred in early 2024, which had a significant impact on the hash rate. In the months leading up to the halving, miner activity steadily increased the hash rate, but this activity dropped off immediately after the halving. In the short term following the halving, Bitcoin's price experienced chaos, further exacerbating the situation.

Despite these concerning trends, there are indeed some notable winners in the mining sector. Fred Thiel, CEO of the largest Bitcoin mining company MARA, also predicts a very bullish outlook for 2025.

In summary, the recent liquidations and surge in mining difficulties have not dampened the bullish sentiment among Bitcoin miners. Since October, more and more miners have chosen to hold assets rather than sell, and the recent bull market has rewarded this behavior.

#比特币诞生16周年