A recent study from Glassnode indicates that Bitcoin (BTC) network health is close to its maximum despite the recent halving of miner rewards.

On-chain BTC Alphabetize

The company has recently introduced its on-chain BTC Index (GNI) that captures a number of cardinal on-concatenation metrics and combines them into easily digestible charts and numbers.

Source: Glassnode

The GNI has decreased from 76 points to 74 points since last week.  However, one of the key metrics, 'Network Health,' which combines network growth and network activity, has jumped six points, from 88 to 94. The two-indicate dip in GNI is mostly due to the significant subtract in "Sentiment" as captured by investor sentiment and saving beliefs, which dropped 23 points in the week culminating in the halving.

Bitcoin is unstable

According to the study, we're currently witnessing neither a bull, nor a bear market, every bit two of the key indicators diverge — the price momentum was negative while on-chain indicators remained potent. Still, the asset seems closer to a bull than bear breakout.

Source: Glassnode

Bitcoin'southward hashrate is 1 of the most important indicators of the network's health. Some were predicting a so-called "death spiral" after the halving. Nevertheless, the report points out that the hashrate has speedily recovered after the initial post-halving drop.

The post-obit calendar week, the starting time full calendar week after the halving, will exist a good indicator of how the mining ecosystem has coped with the decrease in the block advantage.