Bitcoin hashrate drop may signal bottom as treasury firms buy the dip: VanEck

VanEck released a report Monday highlighting a 4% decline in the Bitcoin network hash rate, the steepest drop since April 2024, which the firm identified as a potential signal for a market bottom as bitcoin treasury companies begin to scoop up cheaper coins. The firm highlighted that the 30-day moving average for Bitcoin’s hashrate fell 4% following a peak in early November. In the note, authored by Patrick Bush and Matthew Sigel, the VanEck senior analyst and head of digital asset research attribute this ...