Maximizing Bitcoin BTC $62,062.88 decentralization throughout the entirety of the stack is a matter of national security

Rajiv Khemani, co-founder and CEO of mining chip manufacturer Auradine, told Cointelegraph. The CEO explained that third-party firmware

Bitcoin BTC price action showed little movement on Feb. 27 as the week opened with traders awaiting the next key macro data point.

The United States markets reopened following the Presidents’ Day holiday on Monday, setting the scene for further insights into the health of the world’s largest economy.

Bitcoin price remained above $62,000 on Feb. 27.

BTC/USD 1-hour candlechart (Binance). Source: TradingViewBitcoin price consolidation continuesBitcoin price traded flat into Feb. 27 after posting gains of around 3.5% last week.

Those gains saw BTC/USD hit highs of $62,400, continuing a recovery from lows of $59,400 seen mid-February.

Despite the relative lack of volatility, however, traders were still keeping a close eye on Bitcoin’s behavior.

Fresh analysis from on-chain monitoring resource Material Indicators highlighted the importance of support around $61,000-$61,500.

“If this range fails to hold, expect a quick steamroll down to the next support levels around $58,000,” part of a commentary reads.

“On the other hand, if this support range holds (and it should), we can expect another attempt at breaking through resistance.”A further post noted that Bitcoin price strength was “still waning,” an observation also made by fellow Material Indicators contributor Miles.

“Miners steamrolled after electricity thefts, exchange ‘closure’ scam — Asia Express,” reads an excerpt from the latest issue of Magazine.

Bitcoin price rose 3.5% last week from lows of $59,400.

The on-chain analytics firm highlighted that recent price weakness had seen traders lose “a lot of enthusiasm for buying the dips.”

“This waning strength is a bearish sign, and it suggests that the recent rally may be coming to an end,” Miles added.Bitcoin price sensitivity to hashrate shifts flagged

Meanwhile, another angle on Bitcoin’s recent performance came from mining chip manufacturer Auradine.

In an interview with Cointelegraph, co-founder and CEO Rajiv Khemani outlined the potential risks of third-party firmware in Bitcoin mining hardware.

“Another attack vector is supply-chain risk,” he said.

“If highly specialized mining hardware like application-specific integrated circuits (ASICs) are overwhelmingly manufactured in a single jurisdiction then that country can restrict the export of those products at any time — leaving miners without access to the crucial technology.”

Bitcoin hashrate 1-month chart. Source: MiningPoolStats.streamHighlighting the sensitivity of Bitcoin’s hashrate to changes in the energy grid, Khemani noted that malicious code in firmware could shut down mining operations in a specific region.

“This would cause a drop in hashrate and network difficulty, making a 51% attack easier to execute,” he explained.

The full interview will be published later this week.