CryptoQuant CEO calls rising Bitcoin hashrate ‘indirect bullish signal’ from institutions

Ki Young Ju, CEO of CryptoQuant, views the increasing Bitcoin hashrate as an "indirect bullish signal" emanating from institutional involvement. This surge in hashrate is attributed to public mining companies, often backed by significant traditional financial (TradFi) players, resuming or expanding their operations. This development is seen as a strong positive indicator for Bitcoin's fundamental health and long-term prospects, signifying growing institutional confidence and investment in the core infrastructure of the Bitcoin network.