BTC ‘Miner Heartbeat’ metric shows that the Bitcoin network is still strong

The Hash Rate Momentum Score shows that miners are still confident.

In fact, new analysis shows that BTC mining activity continues to increase, with the crucial hash rate momentum metric trending upward.

No signs of weakness from miners yet

Alpharactal founder Joao Wedson said the “Hash Rate Momentum Score,” a metric that tracks the activity of Bitcoin miners, indicates continued network strength. The score combines the seven-day hash rate change, weighted at 30%, and the 30-day change, weighted at 70%, to assess whether network security is improving or weakening. It also includes a 90-day moving average to capture long-term trends.

Wedson explained that a downward slope in the moving average typically indicates the beginning of miners’ capitulation, while a move into negative territory suggests the phase has ended. He added that the indicator currently remains positive, while the moving average is moving up, indicating stable network conditions and stable miner confidence.

The analyst added:

“But it is certainly a metric to watch… because when this curve turns, it often foreshadows major shifts in the ecosystem”

Watched BTC price action

At the same time, institutional investment activity also showed signs of recovery. Bitcoin Exchange Traded Funds (ETFs) are seeing renewed interest from investors after October’s devastating market crash. Data collected by SoSoValue showed that the US is spotting Bitcoin ETFs included $524 million in cumulative net inflows on Tuesday, the highest daily total since October 7. The increase indicates improving sentiment and a return of risk appetite among investors.

BlackRock’s iShares Bitcoin Trust (IBIT) led the day with $224.2 million in inflows, followed by Fidelity’s FBTC with $165.8 million. Ark Invest and 21Shares’ joint ETF, ARKB, raised over $102 million, while Grayscale’s BTC and Bitwise’s BITB saw inflows of $24.1 million and $7.27 million, respectively.

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As institutional demand returns, Glassnode reported that Bitcoin is currently between the cost basis quantiles of 0.85 and 0.75, at $108,500 and $100,600. These levels have served as key support and resistance zones in previous cases. As such, a breakout in either direction will likely determine BTC’s next trend.

Analysts are now also keeping an eye on the 365-day moving average, a support level that has supported the price during previous rallies. A break below could trigger a downtrend, like in mid-2022, when crypto assets fell about 66%. If CryptoPotato As recently noted, current cycle patterns point to a possible multi-year correction and a potential bottom around $38,000-$50,000 around October 2026.

The short- and long-term averages almost form a Death Cross, although similar signals have led to recoveries before. Strong resistance remains above the current price level.