Bitcoin mining difficulty reaches ATH despite liquidations worth over $292m

The entire cryptocurrency market at press time is bleeding profusely. The total market capitalization declined by almost 11% over the past 12 hours. The massive slump resulted in a loss of around $233 billion sending the total market cap. Thereby, plunging below $2 trillion for the first time since late September. Bitcoin, the largest crypto is leading the fall with a loss of 7% over the past 24 hours. At the time of writing, it was trading just above the $39k mark. Somehow holding on to it… Apart from this, the king coins also witnessed crackdowns across different mining hubs. For instance, Kazakhstan—one of the biggest hashrate countries saw political demonstrations due to price hikes. But Bitcoin’s hashrate took another hit. And of course, China. It plunged the difficulty by its largest share on record as miners in that country had shut down their equipment.

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