Bitcoin's price action shows signs of a potential bullish rebound, aiming to hit the $66,000 mark. Despite a period of consolidation, Bitcoin has recorded a new all-time high in its hash rate. This suggests increased participation from miners in the technology.
The current dominance of Bitcoin stands at 56.3%, nearing a new yearly high. This raises questions about whether now is the right time for investors to enter the market or increase their holdings.
Overall, the increased hash rate and dominance levels indicate strong fundamentals for Bitcoin, positioning it well for future upward movements in price.
