Bitcoin Rebounds as Institutions Buy the Dip — JPMorgan Says Hashrate Hits Record
Bitcoin is making a quiet but notable comeback, with institutional buyers stepping in to scoop up the dip. JPMorgan’s latest report reveals that the Bitcoin network’s hashrate has hit an all-time high—often seen as a sign of long-term confidence from miners and big-money players alike. While price action remains tense, this surge in network strength hints at a possible shift in momentum. As BTC stabilizes, eyes are turning to which other cryptocurrencies could ride the wave next. In this analysis, we break down Bitcoin’s current setup and explore where the smart money may flow next.
Bitcoin Price Struggles as Bulls Show Weakness
Source: tradingview
Bitcoin's current range sits between roughly $102,000 and $110,000, marking a slight tension in its movement. Recent data points to bulls losing their grip, with prices dipping about 3.7% in the past week. The coin is approaching the support level near $98,600, while resistance looms at around $114,000. With an RSI under 40, bearish tendencies appear stronger now. However, over the last month, Bitcoin has grown by nearly 3%, showing potential for resurgence. If bullish momentum gains, it could aim for the second resistance, just over $121,000, capturing a near 20% gain from the current lower price of $102,000. Yet, for now, cautious optimism prevails.
Conclusion
Bitcoin’s rebound, paired with record-breaking hashrate growth, sends a clear signal: institutions are far from bearish. Despite short-term price hesitations, the long-term fundamentals are strengthening—laying the groundwork for a broader market recovery. If BTC pushes beyond key resistance levels, it could trigger a wider rally across altcoins. For now, cautious optimism prevails, but with deep-pocket investors stepping in and network health surging, Bitcoin’s next big move may be closer than it looks—and other major coins may soon follow.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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