Ethereum

2024

Bitcoin

Coin

<ul class="news-points">
 <li>Bitcoin’s price outlook is uncertain due to conflicting signals.</li>
 <li>The end of miner capitulation and rising hash rate are positive signs.</li>
 <li>Increased exchange inflows and Ethereum ETFs pose potential risks.</li>
</ul>
Bitcoin’s price trajectory is caught in a tug-of-war between bullish and bearish forces, according to crypto analyst Willy Woo. Woo points to positive signals like the end of miner capitulation and a rebounding hash rate, but warns of potential headwinds from increased exchange inflows and the launch of Ethereum ETFs.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Miners capitulation is over, it's one of the most reliable bullish indicators. Hash rate is recovering, the price and hash rate bottom coincided with upgrades to next gen hardware hitting the network. M66s went live last week. S21 Pros this week. Hash rate set to scream. <a href="https://t.co/By59bao5cN" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/By59bao5cN</a>— Willy Woo (@woonomic) <a href="https://twitter.com/woonomic/status/1815590862711402842?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 23, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
Willy observed that the conclusion of miner capitulation is the initial bullish signal, often serving as a reliable indicator of favorable price movement. The recent rebound in <a href="https://coinedition.com/bitcoins-pressure-on-crypto-market-intensifies-ahead-of-fomc-decision/" rel="noopener noreferrer nofollow">Bitcoin’s hash rate</a>, coinciding with the introduction of new hardware upgrades, further strengthens this optimism.
Recent activations of …
The post <a href="https://coinedition.com/bitcoin-hash-rate-surges-as-miner-capitulation-ends/" rel="noopener noreferrer nofollow">Bitcoin Hash Rate Surges as Miner Capitulation Ends</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Bitcoin Hash Rate Surges as Miner Capitulation Ends

Coin Edition

Other articles published on Jul 24, 2024

Bitcoin Conference 2024: What To Expect From Event Featuring Donald Trump & Others

ETH ETFs see over $1b of trading volume on launch day

Russian parliament passes first reading of bills for crypto use in international trade, crypto mi...

Spot ETH ETFs Kick-Off to a $106M Inflow On First-Day Trading

Shentu Chain Secures Blockchain Apps

Bitcoin Price Experiences Volatility and FET Coin Shows Potential

Join our free newsletter for daily crypto updates!