Bitcoin’s computing power drops sharply, and the market ushered in a new round of adjustment

On June 4, according to the latest data from Glassnode, the Bitcoin network has experienced a significant decline in the past week, with a drop of as much as 14%, the largest weekly decline since July 2021. This data change not only attracted widespread attention from the market, but also triggered in-depth discussions in the industry about the future trend of Bitcoin.

Specifically, the current computing power of the Bitcoin network (7-day MA) has dropped to 567 EH/s per second, which is significantly lower than the previous peak of 655 EH/s. This data marks that Bitcoin’s computing power has reached a new low since the halving event, showing that the market is undergoing a major adjustment.

As an important event in the Bitcoin ecosystem, the halving event has a profound impact on miners' income and computing power distribution. With the halving of Bitcoin block subsidies, miners' income will be directly reduced by 50%, which will undoubtedly bring huge economic pressure to miners. In this context, some miners may choose to reduce their computing power investment or look for cheaper electricity resources to reduce mining costs.

At the same time, the globalization trend of computing power distribution is also gradually strengthening. As the dominance of computing power in North America weakens, the share of computing power in South America, Africa and other regions is expected to increase significantly. This change will not only affect the stability of the Bitcoin network, but will also have an important impact on the competitive landscape of the global Bitcoin mining industry.

It is worth noting that despite the sharp decline in Bitcoin hashrate over the past week, the price of Bitcoin has not been greatly affected. As of press time, the price of Bitcoin remains stable, showing the market’s recognition of the value of Bitcoin. However, as the distribution of computing power changes and miners’ income decreases, the Bitcoin market will face more uncertainties and challenges in the future.

Overall, the sharp decline in Bitcoin’s computing power is a microcosm of market adjustment. In the coming period, the Bitcoin market will continue to face the influence and challenges of various factors. For investors and miners, it is necessary to pay close attention to market dynamics and changes in the Bitcoin network in order to make more informed decisions. #5月非农数据即将公布 #BTC走势分析