Bitcoin Mining Difficulty Falls as US Stock Market Sees Volatile Week

The Bitcoin mining difficulty dropped by 15% from its January peak of 148.5 trillion to 126.2 trillion, marking a year-over-year decline of 2.5%. This is only the second time in the network's history that difficulty has fallen year-over-year.

Last week saw a net outflow of $62 million from U.S. spot Bitcoin, compared to an inflow of $34 million in the previous week. The U.S. stock market experienced a highly volatile week, with major Federal Reserve policy decisions and earnings reports from tech giants driving trading activity.

Nasdaq Composite increased 1.59%, S&P 500 grew 1.05%, and Dow Jones Industrial Average gained 1.04%. The decline in Bitcoin mining difficulty could be attributed to decreased demand for new mining rigs and reduced energy costs, making it less profitable for miners to operate at current levels.

Emirates recently launched Crypto.com Pay on its website and mobile app, allowing eligible UAE customers to pay for flight bookings with cryptocurrency. Transactions are priced and settled in Emirati Dirham (AED) and processed in compliance with UAE regulatory standards.