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Seeking Alpha 2021-10-11 20:14:16

Bitcoin climbs amid robust weekly crypto fund flows, rising hashrate - CoinDesk

Bitcoin climbs amid robust weekly crypto fund flows, rising hashrate - CoinDesk

Bitcoin (BTC-USD +2.7%) flirts with $58K level, inching even closer to its all-time high of $65.5K from April as crypto funds doubled weekly inflows to $226M in the week ended last Friday, CoinDesk reports. The jump in inflows last week is the highest in five months, and the move is primarily driven by bitcoin-focused funds, according to a report from digital asset manager CoinShares. In addition, bitcoin's (BTC-USD) hashrate has been improving since its trough towards the end of June, and is expected to reach near all-time highs, according to a new report by Luxor Technologies, CoinDesk says. The hashrate is anticipated to rise closer to 185 exahashes per second in Q4, the report said; this would mark an increase of ~33% from the Oct. 7 hashrate of 139 EH/s, according to Glassnode. The recovery in bitcoin's hashrate and flows persist despite China's crackdown on digital asset miners and any

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