GLASSNODE:BTC_HASHRATE
Bitcoin: The average estimated number of hashes per second produced by the miners in the network
This has worked without fail in the past as an early warning sign for incoming sell-off. Could this time be different? We should find out tomorrow after CPI data is released, since consensus is mixed across YoY CPI and Core CPI, we could get an unpredictable reaction, although risk-on markets look to be bullish there isn't that much optimism there yet.
If this plays out as previously we should expect at least around 10-15% drop on BTC from current 22k level
If this plays out as previously we should expect at least around 10-15% drop on BTC from current 22k level
Trade closed: target reached
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