Global

In early trading hours, Bitcoin (BTC) surged above $60,000 before experiencing volatile swings within the $58,500 to $59,700 range. This fluctuation coincided with Marathon Digital Holdings Inc.'s announcement of a $250 million debt offering to acquire more Bitcoin, which significantly impacted market sentiment.

Bitcoin (BTC) has recently entered a short-term bearish phase, falling below the $60,000 mark and dropping beneath $59,500 and $58,000. After hitting a low of $57,690, the cryptocurrency has begun a modest recovery.

On August 11, 2024, Bitcoin mining revenue hit a new yearly low, falling to $2.54 million. This marks the lowest daily earnings for Bitcoin miners since October 2023.

Hong Kong is ramping up its efforts to attract top tech talent and enhance its digital infrastructure as part of a broader strategy to bolster its technology sector.

The cryptocurrency market is no stranger to extraordinary rallies and rapid price surges, with Shiba Inu (SHIB) famously rising to prominence during the 2021 bull market.

In the past two days, institutional investors have ceased their accumulation of stablecoins, leading to a notable decline in Bitcoin's price. As of 08:03 am UTC on August 12, Bitcoin (BTC) has dropped 3.9% to $58,930, falling from a weekly high of $62,510 and slipping below the $60,000 mark.