As Bitcoin Falls, What Is the Latest Situation in BTC Hash Rate?

Cryptocurrency The ongoing bear season in the markets continues. bitcoincould not hold above $20,000 and lost 5% in the past day.

While the declines continue in Bitcoin, the on-chain data followed by analysts draws attention.

crypto research firm Arcane Research’s According to data, an important on-chain data continues to rise. bitcoin measuring the activity of the network BTC The hash rate has reached 225 EH/s. Thus, the historical BTC hash rate record of 231 EH/s was almost broken.

BTC hash rate is one of the most important on-chain data measuring network activity. Increasing network activity indicates that mining activities and money transfers are on the rise.

The increase in the hashrate rate paralleled the resumption of activities by US miners.

In addition, the number of transactions per block on the BTC network is among the rising metrics. While there were 1,647 transactions per block last week, the number of transactions rose 2.30% to 1,868 this week.

Although the increase in the hash rate is not directly related to the price, the increase in this rate is one of the factors that can positively affect the price, as it shows the increase in the activity of BTC. Because the increase in this rate can be interpreted as an increase in network security.

What’s the Latest in Bitcoin?

As the US dollar continues to appreciate cryptocurrency There is a recession in the markets. bitcoinIt continues to trade below $20,000.

Selling may accelerate if Bitcoin sags below the $18,500-18,750 level indicated in red.