Bitcoin (BTC) price and hashrate divergence could set the stage for a potential rally, historical data shows

Consistent with this pattern, bitcoin has already shown signs of recovery, gaining around $9,000 from its local bottom on September 6, representing a 15% increase in value. This divergence between the price of bitcoin (BTC) and its hash rate began to take shape in July and then persisted until early September, when the network’s computing power reached an all-time high of 693 exahashes per second (EH /s) seven-day moving average while bitcoin price was near $54,000.