Matrixport: Hash rate rebounds, Bitcoin moves forward

Matrixport published a chart saying that Bitcoin mining hash rate has historically been a directional indicator of Bitcoin price increases, as shown a year ago, Bitcoin mining hash rate predicted a Bitcoin decline in May 2024. Recently, some miners have shut down their equipment due to poor returns. However, the recovery in hash rate suggests that the pressure on miners may be limited. Despite this, miners' daily income is still low, only $32 million, compared with $73 million around the halving on April 20, 2024.