Bitcoin Surges as Lost Coins Resurface: Miners Ramp Up Efforts Amid Record-Breaking Trends

Bitcoin is changing fast. Recent data reveals exciting trends. The network’s hash rate has hit an all-time high, and long-unused coins are being traded again.

Since spot Bitcoin ETFs were introduced last year, more Bitcoin is available on the market. Interestingly, the number of coins believed to be lost is also decreasing. These shifts suggest that the Bitcoin market is becoming more active and dynamic, with different behaviors from investors.

Let’s dive deeper into the ETF effect. The approval of these ETFs in early 2024 has really turned things around. Active supply has increased by almost 900,000 BTC, while the number of coins thought to be lost has dropped by over half a million. This shift indicates that coins once considered inaccessible are now on the move, likely due to increasing confidence and rising prices. Many long-term holders are adjusting their investments, a common strategy in strong market periods.

Another key detail is the surge in Bitcoin’s hash rate, now over 850 EH/s. This increase shows miner confidence and strengthens the network’s security. As a result, the Bitcoin protocol is evolving with the post-ETF landscape.

Currently, Bitcoin is trading just below $120K. The Relative Strength Index (RSI) sits at 64, suggesting strong momentum but not yet overbought. This indicates there’s still room for a price increase. Furthermore, the On-Balance Volume (OBV) is steady, highlighting consistent buying pressure despite recent price pauses.

Experts suggest that if trading volumes rise and the RSI exceeds 70, Bitcoin could break through its short-term resistance levels and lead to a new rally. As these changes unfold, it’s clear that the market is not just reacting—it’s maturing.

In summary, Bitcoin is experiencing a shift marked by investor confidence and increased trading activity. With ETFs and a growing hash rate, the future looks promising for Bitcoin enthusiasts and investors alike.

For more insights on the impact of Bitcoin ETFs, refer to this [detailed report](https://www.example.com). And remember, understanding market dynamics is crucial for making informed decisions in the crypto space.

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