Bitcoin's network recently marked an unprecedented achievement, with its hashrate soaring to a historic 1 zetahash per second. This milestone signals robust network health and security, yet its price performance tells a contrasting story, struggling to overcome key resistance levels.
Bitcoin's Network Reaches New Heights
The digital asset's hashrate, a critical measure of its computational power and security, officially surpassed 1 zetahash per second for the first time ever. This remarkable surge underscores the increasing participation and investment in Bitcoin mining, reinforcing the network's resilience against attacks and its overall operational strength. This development is a clear indicator of Bitcoin's growing fundamental value.
Price Action Faces Stiff Resistance
Despite this monumental show of network power, Bitcoin's price has found itself stubbornly anchored below the $113,000 mark, specifically stalling at the $112,500 ceiling on platforms like Binance. Even with a notable increase in buying interest and a hike in Open Interest, momentum buyers have struggled to push through this crucial resistance. This divergence suggests either formidable selling pressure from bears or a lack of sustained conviction among buyers, preventing a breakout from current price levels despite strong underlying network fundamentals.
