#Bitcoin Update 🚀

- In early July, the hashrate of the Bitcoin network dropped sharply, the lowest level since December 2022. Some BTC miners started to surrender.

- In April, Bitcoin experienced its fourth halving event, reducing the block reward to 3,125 BTC.

- BTC price drops below $60,000 due to selling pressure from Germany and Mt. Gox, then recovered to $65,000.

- Bitcoin's onchain activity decreased or stagnated over the past 2 years, possibly due to the entry of corporate entities.

- Marathon Digital Holdings did not sell a single BTC in June, keeping 18,536 coins unchanged.

- Hashrate decreased but not as seriously as the 2022 bear market, still maintained at 600 EH/s.

- Hash prices hit record lows, but did not cause a "death spiral" for miners.

- Adjusting mining difficulty helps balance the network and attract new miners.

- BTC price and hashrate have a correlation, but price leads hashrate.

What do you think about the future of BTC? Comment now! 💬