Glassnode: Bitcoin hash rate hits all-time high...bullish outlook

The Bitcoin hash rate, which refers to the average calculation speed for mining Bitcoin, hit a record high of 650 EH/s last week, setting a new record high and driving a bullish trend for Bitcoin in the market.
Glassnode, an on-chain analysis company, said in a voluntary report that "the hash rate of the BTC network last week increased by 1.5%.
The rate hit a record high of 650 EH/s, a new all-time high," he said, claiming that "historically, the hash rate has shown a high correlation with the price of Bitcoin."
He continued, "The increase in this figure suggests that miners are earning a fair return," and "Despite high market volatility,
"The overall increase in hash rate is a positive signal for Bitcoin's long-term bullish momentum."