Bitcoin: Mean Hash Rate (168h MA)
As glass-node explains, the metric stands for the average estimated number of hashes per second produced the miners in the network.
Interesting catch is that the on-chain side of computational power utilized in bitcoin's block-chain right now keeps soaring and ascending aggressively despite the price has seen short-term declines. It's an interesting symp-top which IMO suggests that despite the market shows weakness locally, the network fundamentally and on-chain wise keeps improving. Hence, it looks as if it was a form of bullish "divergence" making bitcoin locally undervalued.
Fundamentally bitcoin's network climbs up and as a result every major dip of 15% or 30-40% that will come will serve as a buying opportunity as long as the hash-rate ascends.
