Bitcoin 'hash price' slides to all-time low following fourth halving event

Bitcoin's so-called hash price has dropped to fresh all-time lows following Bitcoin’s fourth halving on April 20, despite a brief jump in revenue attributed to the hype surrounding Runes etching and hash rate remaining at comparatively high levels.

According to data from Hashrate Index, hash price fell below $50 per PH/s per day for the first time in its history today as bitcoin’s price fell below $63,000 following miners’ subsidy reward drop from 6.25 BTC per block to 3.125 BTC post-halving. Much of that transaction fee activity can be attributed to the hype surrounding Runes — a new fungible token standard for Bitcoin developed by Ordinals creator Casey Rodarmor, offering a more efficient solution for etching tokens on Bitcoin, which was launched at the halving

However, transaction fee rewards have since reduced considerably, with hash price subsequently falling to its fresh all-time low in the early hours of Monday morning.

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