🔡 BITCOIN HASHRATE DROPS TO 2022 BOTTOM LEVELS 

🟢On July 2, according to data from CryptoQuant, the Bitcoin network's hashrate dropped to levels not seen since December 2022, when the collapse of FTX triggered a bear market. The current actual Bitcoin hashrate is down by -7.6%, indicating that the Bitcoin price may have hit a bottom. 

👍 Other indicators supporting the market bottom view:

🟢Bitcoin Exchange Reserves: Bitcoin exchange reserves are at low levels, indicating reduced selling pressure.
🟢Miner Position Index (MPI): The MPI also shows that miners are selling less Bitcoin.
🟢Bitcoin Miner Reserves: Bitcoin miner reserves are at low levels, supporting the market bottom view.

📊 Expert opinions:

🟢Will Woo, a market analyst, stated that the market will not reach new highs until weaker miners are forced to shut down.
🟢Recently, Bitcoin miner withdrawals have decreased by 90% after the halving, further indicating that selling pressure has eased

👉 Source: CoinTelegraph