Matrixport has released a chart indicating that the bitcoin mining hash rate has always been an indicator of the direction of bitcoin price increases. As was the case a year ago, the bitcoin mining hash rate predicted a bitcoin price drop in May 2024. Recently, some miners have shut down their equipment due to poor earnings. However, the rebound in hash rate suggests that the pressure on miners may be limited. Nevertheless, miners' daily income is still low, at only $32 million, compared to $73 million before and after the halving on April 20, 2024.