Hashrate dropping? 🛠 In the broader trend, there’s little cause for concern. However, on lower timeframes, the hashrate has seen a significant drop, currently sitting at 807.26M TH/s (30DMA), compared to the 30-day high of 997.4M TH/s. This decline suggests miners are shutting down machines, leading to the reduced hashrate. The magnitude of this drop is comparable to major events like the China Mining Ban in May 2021 and, more recently, April 2024. Meanwhile, difficulty continues to hit all-time highs. However, it will take time to adjust, as a lower hashrate leads to slower block production, eventually resulting in decreased difficulty—a process that typically takes around two weeks (2,016 blocks). Keep an eye on miner flows and hashrate👀