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Bitcoin difficulty jumps 6% to new peak as miners ignore BTC price dip

Aug 24, 2023 · 1 min read · 242 points
Bitcoin difficulty jumps 6% to new peak as miners ignore BTC price dip
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Bitcoin difficulty hitting new all-time highs this week hints that miners are not worried about the BTC price downturn.

Highlights

  • Bitcoin (BTC) network fundamentals are in no mood to follow bearish BTC price action this week.
  • The latest on-chain data confirms that difficulty has hit new all-time highs, with hash rate not far behind.
  • Despite BTC/USD dropping 10% last week, Bitcoin miners appear to be taking the price downturn in their stride.
  • The next automated readjustment is already due to continue the trend, taking difficulty over 56 trillion for the first time.Bitcoin mining difficulty ends slump with 6.17% increase at its latest biweekly automated read-justment on Aug.
  • 22.
  • It also marked Bitcoin’s sixth-largest difficulty uptick of 2023, figures show.
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