Bitcoin Hashrate Hits New ATH: A Sign of Miners’ Optimism?

Recent developments in the Bitcoin network have caught the attention of the cryptocurrency community, with the hashrate reaching a new all-time high. This could indicate that miners remain optimistic about the future of BTC, despite the volatile market conditions. Here’s a closer look at what this means for the cryptocurrency and its potential price trajectory.

Bitcoin Hashrate Sets New Record—Do Miners Think Bottom Is In?

On-chain data shows the Bitcoin Hashrate has set a new all-time high (ATH) recently, a potential sign that miners are still hopeful about BTC’s future. The “Hashrate” refers to a metric that tracks the total computing power connected to the Bitcoin network for mining. An increase in this metric suggests new miners are joining or existing ones are expanding, implying BTC mining is seen as profitable. Conversely, a decline suggests miners disconnecting their machines due to decreased attractiveness in mining.

Bitcoin Mining Momentum: Eric Trump and Metaplanet in Focus

Bitcoin is back in the spotlight, and Eric Trump has officially stepped into the Bitcoin mining game by teaming up with Hut 8. Trump is also on Metaplanet’s Strategic Advisory Board as the Japanese firm makes another significant Bitcoin buy. The crypto industry seems to be gearing up for its next major rally, with meme coins buzzing and altcoins battling for attention. This wave of momentum is building, especially with pro-crypto wins in U.S. politics.

Indian Firm Jetking to Raise Funds for Bitcoin Investment

Indian tech company Jetking Infortrain Limited has become the first publicly traded Indian company to add Bitcoin (BTC) to its treasury. The company’s board recently approved a ’Strategic Fund Raise’ to acquire more Bitcoin, focusing on expanding its Bitcoin treasury business for scalability and sustainable growth.

US Bitcoin Reserve: Lummis Confirms Treasury Probes Direct BTC Buys

Senator Cynthia Lummis (R-WY) reaffirmed her commitment to establishing a US Strategic Bitcoin Reserve (SBR), disclosing that the Treasury Department is probing its legal authority to purchase and custody BTC on behalf of the federal government. The senator believes such a move could significantly reduce the national debt over the long term. Lummis pointed to roughly 200,000 BTC in the US Marshals Service’s asset forfeiture program as a possible starting point for the investment in the strategic Bitcoin reserve.

Bitcoin Reverses Losses, Analysts Eye $100K

Bitcoin prices have jumped to $85,020 in the last 24 hours, reversing some recent downward momentum. The cryptocurrency is now testing a key resistance level dating back to its January peak of $110,000. While Bitcoin still shows a 3.4% drop over the past week and a 9.5% decline over the last month, signs of recovery are emerging. Technical analysts have noticed a strong one-day price candle erasing losses from the previous three days, and the Relative Strength Index (RSI) has bounced off its support line, suggesting building momentum for an upward price movement.