According to data from CryptoQuant, the computing power of the Bitcoin network has dropped to its lowest level since December 2022, when FTX collapsed and the bear market was at its deepest.
According to CryptoQuant, the current real hashrate of Bitcoin is down -7.6%, which could indicate that the price of decentralized assets has bottomed out.
Other indicators such as Bitcoin Exchange Reserves, Miner Position Index (MPI), and Bitcoin Miner Reserves also support the view that the market has bottomed, showing signs of low selling pressure.