Bitcoin News Today: Bitcoin's Hash Rate Rises Amid ETF Outflows and Geopolitical Uncertainty

Bitcoin's hash rate continues to reinforce network resilience amid a volatile market landscape marked by institutional outflows, geopolitical uncertainties, and shifting regulatory dynamics. Despite a record $1.17 billion in weekly redemptions from U.S. spot Bitcoin ETFs, led by BlackRock's IBIT and Fidelity's FBTC, Bitcoin's price rebounded 4.4% to briefly surpass $106,000, driven by retail demand and optimism over a potential resolution to the U.S. government shutdown. The stabilization in risk sentiment, coupled with a Senate procedural win for a funding bill, spurred a broader market relief rally, with Bitcoin joining equities in a post-shutdown rally.

The hash rate, a critical metric for network security, has climbed to 1.19 billion terahashes per second, reflecting sustained miner profitability and stable electricity costs. This growth underscores the network's ability to absorb supply shocks, such as ongoing sales by long-term holders ("OGs"), without derailing structural momentum. Analysts at QCP Capital noted that deeper liquidity and macro tailwinds-like a potential Federal Reserve pause in rate hikes-have cushioned the market against prior downturns. However, Bitcoin remains range-bound, with technical support near $105,000 and resistance at $118,000, as OG selling and ETF outflows continue to weigh on momentum.

Innovations in blockchain infrastructure are further bolstering digital asset ecosystems. CreditBlockchain launched an XRP Hash Power Platform designed to optimize Ripple (XRP) holdings through intelligent resource allocation. The platform allows users to leverage XRP for cloud-based computing without hardware dependencies, positioning XRP as a dynamic asset for productivity-driven growth. This development aligns with broader industry trends, as miners like BitFuFu report doubling Q3 revenue to $180.7 million amid rising Bitcoin prices and surging cloud mining demand.

In yet another example of sector divergence, Bitdeer posted a $266.7 million net loss for Q3, with shares plummeting 20% as operational costs and post-halving reward cuts pressure margins. Conversely, Greenidge secured a five-year environmental permit in New York by committing to a 44% emissions reduction by 2030, sparking a 37% stock surge. Regulatory clarity also emerged as a key theme, with the end of the U.S. government shutdown expected to revive stalled ETF approvals and crypto rulemaking.

Looking ahead, Bitcoin's path hinges on balancing macroeconomic signals. While the hash rate and miner activity suggest underlying strength, persistent ETF redemptions and geopolitical risks -such as inflation fears and central bank policies-remain headwinds. QCP Capital emphasized that a push above $118,000 would require renewed macro tailwinds or a slowdown in OG selling, while a breakdown below $102,500 could reignite bearish sentiment.