Bitcoin mining profitability is up 275% since before the May 2020 halving.

Institutional crypto appetites have shifted away from altcoin back to Bitcoin, with BTC investment products leading the inflows for digital asset products for the second week in a row.

When it comes to cryptocurrency transactions, the region of Central and Southern Asia and Oceania, or CSAO, is growing rapidly.

"This is basically the same as making a joke that you stole the Mona Lisa by taking a photograph of it," said Twitter user Sergey Pshenichkin.

Correlation does not imply causation, but these 3 indicators did signal prior to Bitcoin's recent push to $49,000.

Analysts identify the key levels BTC needs to hold in order to see continuation above $50,000.

Bitcoin bulls have set their sights on $50,000 and this renewed push is also boosting large and small-cap altcoin prices.

During the outage, many Crypto Twitter users called for the need for a decentralized social network built on blockchain.

AXS, CVP and POLS lead altcoins higher while Bitcoin bulls search for a way to reclaim the $50,000 level.

"We remain optimistic that we are well positioned to scale our hash rate to 13.3 EH/s by the middle of 2022,” said Marathon Digital CEO Fred Thiel.