Dollar dip meets hash rate boom: 5 things to watch in Bitcoin this week

Bitcoin starts the week above $11,000 as fresh gains continue to hold - is $12,000 next or will bears gain control?

Bitcoin remains sensitive to macro phenomena as Q4 continues, and the U.S. election run-up could produce noticeable turbulence.

Bitcoin has historically seen strong inverse correlation with DXY, and fresh lows could thus be a boon for hodlers.

Not so gloomy are Bitcoin's network fundamentals this week.

Depending on the metric used, hash rate hit new all-time highs over the weekend, suggesting that more computing power than ever is being dedicated to mining.

According to data from monitoring resources Bitinfocharts and Blockchain, hash rate hit 155 exahashes per second.

Hash rate is difficult to measure precisely, and different tools produce different results, but the trajectory is clear: Bitcoin miners are bullish.

As Cointelegraph often reports, a popular theory suggests that highs in hash rate and jumps in network difficulty tend to produce Bitcoin price rises later on.

Difficulty has yet to show signs that it will follow hash rate to new records in the short term - estimates on Monday showed that the next readjustment will be neither up nor down, just like the last.

Lastly, despite few expecting its sudden push above $11,000, Bitcoin pundits are betting on further gains.