VanEck: Bearish Sentiment May Restore Momentum in Bitcoin

Decline in Bitcoin Hashrate

VanEck data indicates that over the past 30 days, Bitcoin's hashrate has experienced its largest decline since April 2024. This drop is often associated with miner capitulations and suggests that the market is closer to local lows.

Negative Hashrate Growth and Bitcoin Returns

According to research conducted by VanEck, during negative periods in hashrate over the last 90 days, Bitcoin's returns over the past 180 days have yielded a positive result of 77%. This situation serves as an important signal for investors.