CryptoQuant
A severe winter storm in the United States has caused Bitcoin's network hashrate to fall by about 12% since November 11, the largest drop since 2021. Major mining operations curtailed activities to protect infrastructure and meet grid demands, leading to sharp declines in production and revenue. This disruption marks one of the toughest periods for miners in years, amid falling Bitcoin prices.
Iniulat ng AI
Bitcoin has dropped over 35% from its recent high, falling below key support levels and its 365-day moving average. Analysts at CryptoQuant suggest this could signal the start of a bear market, despite expectations of one more rally. Demand from institutions and treasury companies has significantly weakened.