BTC hashrate recovers nicely, and miners are still in net accumulation

BTC-hashrate-recovers-nicely-and-miners-are-still-in-net-accumulation

BTC miners are regarded as "smart money" speculators, part of their business success depends on their ability to speculate BTC prices correctly, as it would make a big impact to their profitability.

Despite this industry-wide negative event, BTC miners have been net accumulating inventory since June 2021. This shows that BTC miners are at least expecting BTC prices to go higher than $48k in the future. BTC hash rates also in recovery as former Chinese miners begin mining again overseas.