Bitcoin's hashrate experienced a significant rebound in February after a cold wave-induced decline, approaching a full recovery from a previous 30% drop. According to NS3. AI, despite this recovery, Bitcoin's price continues to stay below $70,000, with mining costs surpassing current prices, resulting in miners operating at a loss. Historical patterns indicate that a recovery in hashrate often precedes price rebounds, but for confirmation, Bitcoin needs to surpass the $71,693 resistance level