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Bitcoin Analysts Express Optimism as Price Nears Resistance Level That Stymied It in May

The Bitcoin mining hashrate, a leading indicator for bitcoin rallies, has improved, one observer said, explaining the bullish outlook.

BTC's price nears the trendline resistance that capped upside on Monday. (TradingView/CoinDesk)
BTC's price nears the trendline resistance that capped upside on Monday. (TradingView/CoinDesk)