As Bitcoin climbs above $60,000, analysts at Hashrate Index say it’s still unclear whether or not the network is “out of the woods just yet.”

Bitcoin’s (BTC) difficulty is expected to undergo a “nasty positive adjustment” this week as the network’s hashrate seems to have found a “post-halving bottom,” analysts at Hashrate Index say, suggesting though that the market should “wait to see how brutal the summer will be on the grid in the U.S. before we can be sure.”

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In a weekly research update, the analysts noted that Bitcoin’s 7-day average hashrate returned above 600 EH/s for the first time since mid-June, although they stress that “it’s unclear whether or not the network is out …