Bitcoin Hash Rate Reaches All-Time High: Brace for Impact!

• Bitcoin’s hash rate just hit an all-time high, surpassing 400 trillion hashes per second (Th/s).
• US 10Y treasury yields have reached their highest close since June 2008.
• The Cleveland Fed nowcasts signal escalating inflation pressures, causing the crypto market to brace for impact.

Bitcoin Hash Rate Hits All-Time High

Bitcoin’s hash rate has just hit an all-time high of 400 trillion hashes per second (Th/s), signifying strength and potential stability in Bitcoin’s mining ecosystem. This record achievement represents the culmination of a trend of surging hash rates, indicative of an end to miner capitulation.

US Treasury Yields Reach Highest Close Since 2008

At the same time, US 10Y treasury yields have reached their highest close since June 2008 as Bitcoin loses $29,000 support. This signals potential price upheaval as investors will be less willing to invest in riskier assets such as cryptocurrencies when yields are high and safer investments such as treasuries become more attractive.

Cleveland Fed Nowcasts Signal Inflation Pressures

The Cleveland Fed nowcasts also signal escalating inflation pressures, indicating that the crypto market will likely be bracing for impact in the coming months. This could further drive investors away from cryptocurrency markets and into more secure investments with higher returns.

Short-Term Investors Capitulate Under Market Pressures

The increasing yield pressures on treasury bonds has caused many short-term investors to capitulate under market pressures and seek safety with more stable investments such as treasuries instead of risking their capital in cryptocurrency markets which are still relatively volatile.

Flat Trend Signals Potential Price Upheaval

In light of these developments, Bitcoin’s flat trend amidst surging treasury yields signals a potential price upheaval in the near future as investors flee to safer havens while miners find solace in a record hash rate milestone.

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