During the Oct 10-13, 2025 flash crash (BTC from $126K to $104K on Trump tariff fears), Bitcoin's hash rate dipped ~5-7% from ~950 EH/s to ~880 EH/s, per Glassnode/CoinMetrics data, as marginal miners powered down amid hashprice falling to ~$50/PH/day.This minor drop temporarily weakens network security: lower hash rate raises 51% attack risk (cost drops ~$2-3B) and may slow confirmations if fees don't surge. Yet, difficulty adjusts in ~2 weeks, and resilience holds—no major threats seen.
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In derivatives markets, high positive funding rates signal strong long positions, indicating bullish sentiment but risking a pullback if unsustainable. Rising open interest with price increases suggests new longs, reinforcing a bullish trend. Conversely, negative funding rates and falling open interest with price drops hint at bearish pressure and potential reversals.
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Coinbase (COIN) stock exhibits a strong positive correlation (~0.7-0.8) with Bitcoin prices, driven by trading fees (32% from BTC volume) and crypto market volatility. In 2025, COIN rallied 30%+ post-Trump election amid BTC's $115K surge, but dipped 33% during Feb BTC dumps. As BTC nears $100K+, COIN targets $327 avg., mirroring crypto trends.
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