Bitcoin 51% Attack Risk as Two Pools Dominate Hash Power
Two of the largest Bitcoin mining pools, Foundry USA and AntPool, now control over 51% of the network’s hash power. This hash power centralization raises serious 51% attack concerns, despite the high cost of reorgs or double spends. Foundry even mined eight consecutive blocks, an uncommon sign of miner dominance. Empty block rates have climbed, squeezing transaction fee revenue and reducing network efficiency. Bitcoin’s price has slipped from $124,000 to about $113,000, nearing key support at $110,530; a break below could trigger deeper declines toward $107,000 or $100,000. Any further imbalance could stoke fresh 51% attack fears, spurring miner migrations to smaller pools, rapid sell-offs and margin calls. Traders should also monitor macro factors—such as Federal Reserve policy shifts and potential stablecoin outflows under the Genius Act—that may amplify market volatility.
Bearish
The consolidation of over half of Bitcoin’s hash power in two mining pools heightens network risk, fueling market uncertainty and likely triggering short-term sell-offs and increased volatility. Traders may offload positions to hedge against potential 51% attack scenarios or sudden miner migrations, pushing prices lower. Over the longer term, anticipated technical upgrades (such as Stratum V2) and regulatory scrutiny could mitigate centralization, but until these measures take effect, market sentiment will remain cautious, sustaining bearish pressure on Bitcoin.