- BTC’s true Hashrate surged past 750 EH/s, with upper bands nearing 1,000 EH/s, reflecting a sharp rise from 100 EH/s in mid-2020.
- The number of active ASIC mining rigs exceeded 4.8 million by early 2025, up from 1.6 million in 2018.
Bitcoin’s [BTC] network has seen remarkable growth, with increasing mining power, institutional interest, and futures market expansion shaping price movements.
These factors influence market cycles, miner behavior, and trading sentiment.
Recently, BTC’s true Hashrate surged past 750 EH/s, with upper bands nearing 1,000 EH/s, reflecting a sharp rise from 100 EH/s in mid-2020.
Source: Cryptoquant
The analyses showed steady increases, with peaks at 600 EH/s in 2022 and 750 EH/s in 2024. Lower bands hovered near 500 EH/s, ensuring network stability.
This growth signaled strong miner investment, reinforcing network security.
Notably, Bitcoin’s price spikes, such as the $60K peak in 2021, aligned with Hashrate expansions, while corrections like the $20K drop in 2022 tested resilience.
If Hashrate falls to 600 EH/s, it may indicate reduced miner profitability. Conversely, a rise to 1,000 EH/s could attract new miners, enhancing security and price stability.
The expanding role of miners in market stability
Further analyses show the number of active ASIC mining rigs exceeded 4.8 million by early 2025, up from 1.6 million in 2018.
The data indicated consistent expansion, with major levels at 3.2 million in 2020 and 4 million in 2023.
Source: CryptoQuant
A dip to 2 million in 2022 coincided with Bitcoin’s $20K correction, while recovery to 3.5 million in 2023 highlighted resilience.
This expansion aligned with Bitcoin’s growing hashrate, increasing network security but also intensifying mining difficulty.
Historically, higher rig counts preceded major rallies, such as Bitcoin’s $60K surge in 2021. If active rigs decline to 4 million, it may suggest a market cooldown.
However, growth to 5 million could bolster bullish sentiment, potentially driving Bitcoin above $120K.
Institutional influence and its impact on price trends
CME Bitcoin Futures Open Interest (OI) reached $25 billion by early 2025, surpassing previous peaks at $20 billion in 2021 and $15 billion in 2023.
The OI chart mirrored Bitcoin’s price movement, aligning with its recent climb to $100K.
Institutional participation has expanded since 2018, when OI stood at $5 billion, followed by a decline to $10 billion in 2022 amid a $20K correction.
Higher OI levels typically precede volatile price moves, either surging rallies or sharp corrections. A rise beyond $30 billion may reinforce a sustained bullish trend, while a drop to $15 billion could trigger a market retracement.
BTC’s next move: Breakout or correction?
Moreover, BTC’s price outlook remained closely linked to current trends. With OI peaking at $25 billion and Bitcoin trading at $100K, historical patterns suggested a potential rally to $120K.
Past OI peaks at $20 billion in 2021 fueled a $60K price increase, while corrections to $10 billion in 2022 led to a $20K drop. The sustained hashrate at 750 EH/s and 4.8 million ASIC rigs bolster Bitcoin’s bullish outlook.
However, external factors such as energy costs or regulatory shifts could push hashrate down to 600 EH/s, triggering a correction to $80K.
Conversely, rising OI beyond $30 billion and ASIC expansion past 5 million rigs may support a surge to $150K.
