According to Odaily, Matrixport has released data suggesting that Bitcoin's mining hash rate has historically been a leading indicator of Bitcoin price movements. As observed a year ago, the hash rate predicted a decline in Bitcoin prices by May 2024. Recently, some miners have shut down their equipment due to poor profitability. However, the resurgence in hash rate indicates that the pressure on miners might be limited. Despite this, miners' daily revenue remains low at $32 million, compared to $73 million around the halving event on April 20, 2024.