ME News reports that on October 22 (UTC+8), Ki Young Ju, founder of CryptoQuant, posted on X that Bitcoin’s hash rate has returned to an upward trend, with miners operating at full capacity. Increased hash rate signifies enhanced network security and further strengthens Bitcoin’s fundamentals as a store of value. Ki Young Ju noted that publicly traded mining companies are receiving support from traditional financial giants, which he views as an indirect bullish signal from institutional investors. (Source: ODAILY)
Bitcoin hash rate rises, CryptoQuant founder notes institutional support for public mining firms
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Summary
Bitcoin’s hash rate is rising, with miners operating at full capacity, according to CryptoQuant founder Ki Young Ju. The increase indicates stronger network security and reinforces Bitcoin’s role as a store of value. Institutional support for public mining companies is emerging, as traditional finance players begin to participate. This aligns with key support levels and could impact support and resistance patterns across the broader market.
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