Bitcoin Hashrate Shows a V-Shaped Recovery — Will Bitcoin Price Follow?

Bitcoin's total computational power, or hashrate, demonstrated a strong V-shaped recovery in February, bouncing back from a significant drop caused by an Arctic cold wave straining the US power grid earlier in 2026. The hashrate rebounded from below 850 EH/s to over 1 ZH/s, with mining difficulty increasing substantially to erase the prior drop. Despite this network strength, Bitcoin's price remains below $70,000, meaning many miners are operating at a loss, with the cost to mine one Bitcoin estimated around $84,000 in February. Historically, V-shaped hashrate recoveries, such as the one following China's 2021 mining ban, have preceded significant price surges. Further supporting optimism, miner wallet outflows have hit their lowest levels since May 2023, suggesting miners are holding onto their coins anticipating a price recovery. However, analysts note that a sustained price recovery ultimately requires Bitcoin to break out above the $71,693 resistance level.

(Source：BeInCrypto)