Bitcoin Updates: Bitcoin Hash Rate Climbs Despite ETF Withdrawals and Global Tensions

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Bitcoin Updates: Bitcoin Hash Rate Climbs Despite ETF Withdrawals and Global Tensions

Bitget-RWA2025/11/13 17:56

By:Bitget-RWA

- Bitcoin's hash rate hits 1.19B TH/s amid ETF outflows and geopolitical risks, showing network resilience despite $1.17B in weekly redemptions. - Price rebounds 4.4% to $106,000 driven by retail demand and Senate funding bill progress, though ETF redemptions and OG selling persist as headwinds. - Blockchain innovations like CreditBlockchain's XRP platform and divergent miner profits ($180M vs -$266M Q3) highlight sector fragmentation and growth opportunities. - Regulatory clarity post-government shutdown

Bitcoin’s hash rate continues to strengthen the network’s security, even as the market faces turbulence from institutional withdrawals, global tensions, and evolving regulatory conditions. Despite a historic $1.17 billion in weekly outflows from U.S. spot

Bitcoin

ETFs—primarily from BlackRock’s IBIT and Fidelity’s FBTC—

Bitcoin’s value climbed 4.4%

and briefly exceeded $106,000, fueled by retail investor interest and hopes for a resolution to the U.S. government shutdown. Improved risk appetite, along with a Senate procedural step forward on a funding bill,

triggered a widespread relief rally

, with Bitcoin rising alongside stocks after the shutdown ended.

The hash rate, a vital indicator of network strength,

has reached 1.19 billion terahashes per second

, signaling ongoing miner profitability and steady power expenses. This increase highlights the network’s resilience to supply disruptions, such as continued sales from long-term holders (“OGs”), without losing its structural momentum.

QCP Capital analysts observed

that greater liquidity and supportive macroeconomic factors—like a possible Federal Reserve pause on rate hikes—have helped the market weather previous declines.

Bitcoin Updates: Bitcoin Hash Rate Climbs Despite ETF Withdrawals and Global Tensions image 0

Still,

Bitcoin is trading within a set range

, finding support near $105,000 and facing resistance at $118,000, as ongoing OG selling and ETF outflows continue to dampen momentum.

Advancements in blockchain technology are further enhancing the digital asset landscape.

CreditBlockchain has introduced an XRP Hash Power Platform

aimed at maximizing Ripple (XRP) holdings through smart allocation of resources. This platform enables users to utilize

XRP

for cloud computing without needing physical hardware, positioning XRP as a flexible asset for productivity and growth. This move reflects broader industry shifts,

as mining firm BitFuFu reported its Q3 revenue doubled

to $180.7 million, driven by higher Bitcoin prices and increased demand for cloud mining.

Highlighting the sector’s divergence,

Bitdeer recorded a $266.7 million net loss

in Q3, with its shares dropping 20% due to rising operational expenses and reduced rewards after the halving. In contrast,

Greenidge obtained a five-year environmental permit

in New York by pledging to cut emissions by 44% by 2030, resulting in a 37% jump in its stock price.

Regulatory developments also stood out

as a major theme, with the conclusion of the U.S. government shutdown expected to restart delayed ETF approvals and crypto regulations.

Looking forward, Bitcoin’s trajectory will depend on how it navigates broader economic signals. While the hash rate and miner activity point to underlying robustness,

ongoing ETF outflows and geopolitical uncertainties

—including inflation concerns and central bank actions—remain obstacles. QCP Capital stressed that a move above $118,000 would need renewed macro support or a slowdown in OG selling,

while a drop below $102,500

could revive bearish sentiment.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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