NewsletterWhy Did Bitcoin (BTC) Hashrate Spike 10% in a Single Day?
Highlights
- Bitcoin hashrate surged by 9.91% in 24 hours, reflecting growing miner activity.
- As the Bitcoin price recovered from the crash, investor interest surged in the crypto token.
- Despite the pullback, experts foresee BTC's bullish price trajectory reaching $200k by 2025 end.
The Bitcoin (BTC) hashrate often portrays the demand and potential price performance of the cryptocurrency. Interestingly, the hashrate spiked nearly 10% (9.91% to be exact) in the last 24 hours alone, signaling an important milestone happening in the crypto market. Let’s discuss why this is up and what it indicates for the BTC price.
Bitcoin Hashrate Spikes With Increasing Miner Confidence
According to Bitinforcharts, the Bitcoin hashrate surged 9.91% today and 23% in the last three days, reaching a high of 913 EH/s. A rising BTC hashrate is the direct indication of the increasing miners’ activity fueled by the confidence in the digital asset.
More importantly, it also suggests that mining equipment is getting deployed more, despite the earlier concerns of reduced mining activity due to halving. The Bitinforchart stats revealed that it has been constantly above 700 EH/s for the last three months.
However, it has also reached occasional highs of 1,000 EH/s on a few events. Not only could this influence the security and decentralization of the blockchain network, but also the Bitcoin price to some level.
Bitcoin Price Consolidates Below $95k, What’s Next?
Bitcoin is currently trading at $94.6k, despite setting the ATH at $109.1k at the beginning of the year. Amid the Trump-China trade war, the BTC price suffered significantly before making a recovery in recent times. Experts cite the BlackRock $1 billion Bitcoin buying, ETF inflows, increasing adoption, and the BTC hashrate surge for the recovery.
The quiet Bitcoin crisis nobody’s ready for:
• Only 450 BTC mined per day
• BlackRock bought 12,490 in 48 hrs
• Morgan Stanley scooped 15,355
• $4B+ ETF inflows in just 8 days
• Arizona allocating 10% of state funds to BTC
• Hashrate up 17% this yearThe liquidity is… pic.twitter.com/rt4Ysx384L
— ZarKa (@arkanicus) April 30, 2025
Although the investors’ rising confidence also confirmed with the Bitcoin hashrate spike, its rally is on hold due to the lack of a bullish catalyst. At present, it’s facing the mini $95k resistance and the psychological resistance at $100k. Once it overcomes this, crypto analysts confirm a bullish rally.
Experts like Dave the Wave have predicted the BTC price hitting $200k by 2025 end. Recently, BitMex founder Arthur Hayes predicted Bitcoin to hit $1 million by $2028.
Overall, the Bitcoin price predictions indicate the bullish trajectory of the token despite the slumps.
Frequently Asked Questions (FAQs)
1. Why did the Bitcoin hashrate surge?
2. What does a higher Bitcoin hashrate indicate?
3. How high can the Bitcoin price go?
- Senate Committee Advances Pro-Crypto Michael Selig’s Nomination For CFTC Chair
- Ethereum Treasury FG Nexus Offloads 10,922 ETH Amid ETH Price Crash Below $3,000
- Billionaire Ray Dalio Reveals Bitcoin Allocation, Says BTC Not Ready For Reserve Role
- Breaking: Rep. Warren Davidson Introduces ‘Bitcoin for America’ Act to Codify Strategic BTC Reserve Order
- More Rate Cuts Could Keep Inflation Elevated, Fed’s Beth Hammack Warns
- Dogecoin Price Forecast: Will DOGE Hold Above $0.15 or Fall Lower?
- Pi Coin Price Eyes a 105% Surge as Bullish Patterns Align With Bullish Fundamentals
- Will XRP Price Rally to $3 After Bitwise Launches First XRP ETF on NYSE?
- Ethereum Price Hits Historical Liquidity Reset — Is a Bounce Coming?
- Solana Price Prediction: Key Indicators That Could Propel SOL Toward $200
- Zcash Price Outlook: What’s Next for ZEC After Surging 12%?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
