On January 13th, it was announced that Bitcoin mining difficulty had undergone its eighth consecutive positive adjustment, reaching a new historical high of 110.45T. This indicates that the current mining difficulty is approximately 110.45 trillion times greater than it was during the creation of the Bitcoin genesis block. The Bitcoin network adjusts its difficulty every 2016 blocks to maintain an average block time of 10 minutes.

This marks another instance of consecutive positive adjustments following the bear market of 2018 and bull market of 2021. After China banned mining in 2021, mining difficulty underwent nine consecutive adjustments before reaching its peak in November 2021 when Bitcoin reached a price of $69,000. Similarly, in 2018, Bitcoin underwent 17 consecutive positive adjustments before reaching a low of $3,000 after hitting a high of $20,000. Currently, Bitcoin's seven-day moving average hash rate has reached 775 EH/s and is expected to surpass the milestone of 1 ZH per second before the next halving. While multiple consecutive adjustments do not necessarily indicate a clear trend, they often coincide with the appearance of cyclical tops or bottoms, demonstrating the Bitcoin network's continued strength.