Key takeaways
Bitcoin’s hashrate hit a historic 1 zetahash per second, but the price action remains stuck below $113k. Despite strong buying interest and a hike in Open Interest, breaching resistance levels will be tough.
Bitcoin’s [BTC] hashrate is in the news today after it blasted past 1 zetahash per second for the first time ever! Now, while that’s a big show of network strength, the price action seemed to tell us a different story.
On Binance, for instance, BTC saw its strongest burst of buying in weeks, only to stall out once again at the $112,500-ceiling. The failure to crack resistance could either mean heavy-handed selling pressure or buyers lacking the conviction to push harder.
What’s going on?
A new era for BTC mining
Source: https://ambcrypto.com/bitcoins-hashrate-is-breaking-records-but-price-is-still-far-from-its-ath-why/