Author
Ahmed Balaha
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Bitcoin miners just sent a loud signal for BTC Price.
The network hashrate snapped back in a sharp V shaped recovery, even after January wiped out weaker operators. That kind of rebound suggests miners are not backing down. If anything, they look positioned for upside while $60,000 holds.
Last month was brutal. BTC slid from $90,000 to a February 6 low near $60,008. At the same time, ETFs saw $544M in outflows in a single day, and futures markets flushed $2B in liquidations.
Mining difficulty even posted its biggest negative adjustment since the 2021 China ban. That kind of capitulation usually shows up near bottoms. Weak hands shut off. The stronger players survive. And margins quietly improve for the ones still standing.
Can Miners Sustain the Momentum?
The hashrate snapback shows the panic did not last long.
Big pools like Foundry USA are tightening their grip, and Mara.com held around 61.7 EH/s even during peak volatility. That kind of V shaped rebound tells you industrial miners absorbed the shock and are leaning bullish.
That matters.
Still, it is not risk free. Margins are tight. If the Fed leans hawkish, capital gets more expensive, especially for leveraged miners. They are clearly betting that higher spot prices will bail them out.
What Does This Signal for BTC Price Action?
The hashrate bounce is a solid fundamental boost. But price still decides everything.
Bulls need to reclaim and hold $74,000 to confirm a real reversal. As Arthur Hayes keeps pointing out, liquidity will control how fast this move unfolds.
If BTC can stay above $70,000, the next upside target sits around $83,000. Lose momentum and the downside opens back toward the $49,000 to $53,000 zone.
For now, network strength leans bullish. But the chart has to follow through.
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