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19.03.202612:24 Forex Analysis & Reviews: War in Iran hurts miners

Relevance up to 02:00 2026-03-20 UTC--4

A drop in Bitcoin hashrate is a troubling signal for the crypto market. Recent events in the Middle East have had a grave impact on the global economy, and the crypto sector is no exception. Bitcoin's hashrate — the key measure of miners' activity — fell 8% over the week to about 920 EH/s. That decline raises serious concerns among market participants, since it can entail a chain of negative consequences.

Exchange Rates 19.03.2026 analysis

The main reason for the hashrate fall is a sharp rise in energy costs caused by the escalation of the war in the Middle East. Around 10% of global mining is concentrated in regions where electricity prices are a critical determinant of profitability. Higher energy bills make mining less attractive and are forcing some operators to scale back or halt operations entirely.

A lower hashrate directly affects Bitcoin network security and signals increasing stress among miners. As profitability falls, miners must cut operating costs, which can lead to the shutdown of equipment. In extreme cases, this can trigger miner capitulation — forced sales of mined Bitcoin to cover running expenses. That scenario puts direct downward pressure on BTC prices.

There is no reason to panic yet. The current drop to the $71,000 area is still being viewed as a correction after the recent large rally, but any move below $70,000 could sweep stop?losses of major players and accelerate the bear market, bringing back negative sentiment and endangering a future uptrend.

Trading recommendations

Exchange Rates 19.03.2026 analysis

Bitcoin

Buyers are currently targeting a return to $70,900, which would open a direct path to $73,000 and then to $74,600. The most distant upside target is around $76,500; a break above that would indicate attempts to resume the bull market. On the downside, buyers are expected at $69,300. A move back below that area could quickly push BTC toward $66,700, with a further downside target near $64,900.

Exchange Rates 19.03.2026 analysis

Ethereum

A clear close above $2,210 would open the way to $2,279. The most distant upside target is around $2,368; a break above that would signal strengthening bullish sentiment and renewed buyer interest. On the downside, buyers are expected at $2,145. A move below that area could quickly send ETH toward $2,078, with a further downside target near $2,007.

What's on the chart

  • The red lines represent support and resistance levels, where price is expected to either pause or react sharply.
  • The green line shows the 50-day moving average.
  • The blue line is the 100-day moving average.
  • The lime line is the 200-day moving average.

Price testing or crossing any of these moving averages often either halts movement or injects fresh momentum into the market.

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Jakub Novak,
Analytical expert of InstaSpot
© 2007-2026
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