CryptoQuant

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Analysts at CryptoQuant report that the total cryptocurrency market capitalization has declined by more than $730 billion over the past 90 days. Bitcoin experienced the largest drop, with its market value falling by about $348 billion. This downturn reflects a significant capital outflow amid heightened market volatility.

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A severe winter storm in the United States has caused Bitcoin's network hashrate to fall by about 12% since November 11, the largest drop since 2021. Major mining operations curtailed activities to protect infrastructure and meet grid demands, leading to sharp declines in production and revenue. This disruption marks one of the toughest periods for miners in years, amid falling Bitcoin prices.

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