Bitcoin Hashrate Rebounds as Xinjiang Miners Come Back Online
The outages took place shortly before mining operations usually move from the coal-rich Xinjiang region to the rain-rich region of Sichuan.
Bitcoin Hashrate
Bitcoin sentiment is improving despite profit taking into July.
The outperformance came despite a negative month for the leading cryptocurrency by market cap.
Plus: China’s Bitcoin crackdown, and why bitcoin isn’t a “boomer coin.”
The technical charts suggest further downside is likely as sellers react to extreme overbought conditions since March.
The U.S. central bank also increased estimates of coming inflation to 3% from the 2.2% projection in March, largely due to transitory factors.
Bitcoin Hashrate
