#BTCHashratePeak marks a significant moment in the history of the Bitcoin network, when the total computing power used to process transactions and secure the network reaches a new all-time high. A high hashrate indicates that more miners are participating, using more advanced and efficient hardware. This increases the security of the network as it makes 51% attacks more difficult and costly to execute. Hashrate increases are typically influenced by rising Bitcoin prices, advancements in mining technology, and energy efficiency.