Hash rate is a critical indicator of network security, mining activity, and overall network health.

Block Height refers to the total count of blocks added to Bitcoin’s blockchain, reflecting the continuous growth of the network. Each block added represents a new record of transactions, and the chart tracks this growth over time, showing how the blockchain has expanded as more transactions are processed.

When the 30-day moving average (30DMA) of Bitcoin’s hash rate drops below the 60-day moving average (60DMA), it indicates that miners are capitulating and struggling to maintain operations. This is reflected by the appearance of dark pink vertical lines on the chart.