Bitcoin’s Hashrate Dip: A Historical Signal for a Potential Bull Run

Recent data indicates a 4% decline in Bitcoin's network hashrate over the 30 days leading to mid-December 2025. This development has captured the attention of market analysts, who point to a compelling historical correlation. According to research from investment firm VanEck, periods of falling hashrate have often preceded significant price rebounds for Bitcoin. Analysts Matt Sigel and Patrick Bush note that when the 30-day hashrate trend is negative, Bitcoin's price performance over the following 90 days has been positive approximately 65% of the time. This success rate notably outperforms the 54% positivity rate observed during periods of hashrate growth. The current decline reignites discussions around miner capitulation and its role as a potential market bottom indicator. Historically, sustained drops in hashrate can signal that less efficient miners are shutting down operations due to economic pressure, effectively 'shaking out' weak hands from the network. This process often reduces the selling pressure from miners who need to cover operational costs, potentially paving the way for a supply-side squeeze. As we approach the end of 2025, this technical on-chain metric provides a data-driven narrative for bullish investors. While past performance is never a guarantee of future results, the historical precedent offers a framework for understanding potential market cycles. The analysis suggests that the current miner dynamics could be setting the stage for a period of price consolidation and subsequent upward momentum as the network adjusts and becomes more efficient. Market participants are now closely watching for a stabilization or reversal in the hashrate trend as a potential confirmation signal.

Bitcoin Hashrate Decline Signals Potential Price Rebound, Analysts Say

Bitcoin's hashrate dropped 4% in the month leading to December 15, reigniting discussions about miner pressure and historical price correlations. VanEck analysts Matt Sigel and Patrick Bush highlight a compelling pattern: when hashrate falls over a 30-day period, Bitcoin's 90-day forward returns have been positive 65% of the time, outperforming the 54% positivity rate during hashrate increases.

Longer timeframes reveal even stronger bullish signals. A 90-day hashrate contraction preceded 180-day price gains 77% of the time, with average returns of 72%. The data coincides with miner economics reaching an inflection point—break-even power costs for Bitmain's S19 XP rigs plunged 36% to $0.077/kWh, squeezing margins and forcing inefficient operators offline.

Approximately 1.3 gigawatts of mining capacity recently exited China's network, contributing to the hashrate decline. Market watchers now monitor whether this contraction will follow historical precedents as a precursor to Bitcoin's next rally.

Russia Moves to Recognize Cryptocurrencies as Currency Assets Under New Plan

Russia's Central Bank has proposed a groundbreaking framework to classify Bitcoin and stablecoins like Tether as "currency assets," marking a significant shift in regulatory stance. The plan allows both qualified and non-qualified investors to acquire cryptocurrencies, though domestic payments remain prohibited.

Non-professional investors will gain access to liquid digital assets pending legislative criteria—a move that could democratize crypto ownership while maintaining safeguards. Special testing requirements suggest a focus on investor education amid expanding access.

The proposal reflects growing institutional recognition of crypto's monetary properties, even as Russia maintains restrictions on transactional use. Market observers note this could pressure other jurisdictions to clarify their regulatory positions.

Bitcoin Network Activity Cools as Bear Market Indicators Strengthen

Bitcoin's network metrics are flashing warning signs as the cryptocurrency struggles to maintain momentum after its sharp retreat from all-time highs. On-chain data reveals a pronounced slowdown in active addresses and transactional activity, typically precursors to extended consolidation periods.

The BTC Bull-Bear Cycle indicator now sits below its 30-day moving average (-0.52%), a technical confirmation of bearish conditions. This aligns with dwindling activity among highly engaged wallet addresses—a metric historically correlated with price volatility.

Market observers note the cooling network activity contrasts sharply with the frenzy seen during Bitcoin's ascent to $126,000. The current pullback has exposed fragility in trader sentiment, with long-term holders appearing reluctant to deploy capital at current levels.

JPMorgan Explores Bitcoin Trading Services for Institutional Clients

JPMorgan Chase & Co. is evaluating the launch of cryptocurrency trading services for institutional clients, signaling a strategic shift toward deeper engagement with digital assets. The Wall Street giant's markets division is reportedly considering both spot trading and derivatives linked to bitcoin and other cryptocurrencies.

This internal review, still in early stages, reflects growing institutional demand for crypto exposure. While JPMorgan has maintained crypto-related initiatives for years, direct trading services WOULD position the bank at the center of institutional Bitcoin activity—a remarkable evolution for a firm whose CEO once called Bitcoin "a fraud."

The potential MOVE follows Bloomberg's report detailing Wall Street's increasing difficulty ignoring cryptocurrency markets. Any final decision will hinge on client interest, risk assessments, and regulatory clarity—factors that have delayed similar institutional forays into digital assets.

Michael Saylor's Strategy Pivots Beyond Bitcoin as Stock Struggles

MicroStrategy's shares have plummeted 45% year-to-date, dramatically underperforming bitcoin's 6% decline. Executive chairman Michael Saylor now positions the company as a "capital markets platform" rather than a pure bitcoin proxy, signaling a strategic evolution amid investor skepticism.

The shift comes as spot bitcoin ETFs gain traction and crypto-native alternatives proliferate, eroding MicroStrategy's unique value proposition. Saylor maintains the new vision "goes beyond bitcoin exposure," though markets remain unconvinced as the stock faces potential index removals.

This pivot reflects broader institutional tensions - traditional investors want regulated exposure, while crypto natives prefer direct ownership. MicroStrategy's 140,000 BTC treasury now serves as collateral for its digital finance ambitions rather than the sole investment thesis.

Bitcoin Consolidates Near $87K Amid Market Fear

Bitcoin dipped 1.2% to $87,450 as the Crypto Fear and Greed Index registered 29, signaling investor apprehension. Daily turnover reached $42.5 billion, while Bitcoin's market capitalization held steady at $1.75 trillion. The cryptocurrency remains dominant, with the Altcoin Season Index at just 17.

Technical analysis reveals Bitcoin trading within a descending channel, finding support NEAR $84,500-$85,000. The 4-hour chart shows consolidation between key EMAs at $88,200 and $88,850, with RSI at 44 suggesting potential bullish divergence. Recent candlestick patterns indicate equilibrium rather than panic selling.

Total crypto market capitalization hovered at $2.96 trillion, suggesting capital rotation rather than mass exodus. Bitcoin's circulating supply nears its 21 million hard cap, with just under 20 million coins currently in circulation.