According to Ycharts, the outages appear to have driven a roughly 2.2% drop in the Bitcoin network’s combined hash rate in the past 24 hours, which has slid from 169.4 million terahashes per second, or TH/s, to 165.8 TH/s as of this writing.
Is it really a 30% drop? The news I am seeing is that it is only a 2.2% drop and not a 30% drop? I know that Xinjiang region comprises of around 34% global mining hash rate so they might assume that the 30% is the drop because of their global hash rate. Nevertheless this is something wrong to assume that this is causing the drop especially when the price rally of Bitcoin going to 64,000$ is something without any volume supporting it meaning the price rally was weak and is susceptible to correcting as soon as people starts to take profit.