Bitcoin’s mining difficulty has reached a new peak as the cryptocurrency hovers around the $26,000 price level. According to the latest edition of the weekly report from crypto exchange Bitfinex, the mining difficulty hit an all-time high of 55.62 trillion hashes.The mining difficulty is a metric representing the challenge of validating a new block. High difficulty is considered a positive indicator because it means the Bitcoin network will use more computing power to mine the same number of blocks, making the blockchain more secure against attacks. The Bitcoin protocol automatically adjusts its mining difficulty every two weeks to ensure a consistent block generation time of approximately 10 minutes.The surge in mining difficulty is likely due to an influx of Bitcoin miners, attracted by the network’s block rewards of 6.5 BTC and transaction fees. The hash rate of Bitcoin has also hit a new peak of approximately 414 terrahashes per second (TH/s), marking a 60% surge since the start of the year.Since BTC’s sudden plunge on August 17 to the $25,000 level, over $2 billion of futures positions have been closed, yet the market has not seen a major movement of coins. Long-term holders have continued accumulating, but Bitcoin’s supply metrics still signal inactivity. Bitcoin’s volatility metrics are still low by historical standards, indicating that the market could take longer to recover.

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Information	Details
Geography	Global
Countries
Sentiment	neutral
Relevance Score	8
People	None
Companies	Binance, CryptoPotato, PrimeXBT, Bitfinex
Currencies	Bitcoin, Ethereum
Securities	None