The Bitcoin network has experienced increasing hash rates, while on-chain activity is at multi-year lows. This decline raises concerns about miner profitability, but miners remain unconcerned and are opting to hold their BTC.
Forecasts indicate a potential price surge to $140K, contingent upon miner behavior and market conditions. The $110K-$112K range acts as vital support for bullish expectations as the market navigates through low activity.
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