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 analytics company, said in a self-report that "BTC network hash rate hit 650 EH/s last week.
"Historically, the hash rate has shown a high correlation with the price of Bitcoin," he said.
He continued, "The increase in the figures means that miners are earning a fair income.
"Despite high market volatility, the sustained increase in hash rate is a positive signal for Bitcoin's long-term bullish momentum," the report said.