Marathon Digital Holdings has transferred 644 BTC, valued at approximately $58.7 million, to FalconX and Coinbase Prime. This move is part of a broader trend of Bitcoin transfers by the company in November, as the hash price index reached a record low of $38. CEO Fred Thiel noted that Bitcoin's recent decline below $90,000 was driven by a combination of the Federal Reserve's hawkish policies and profit-taking activities. On November 13, spot Bitcoin ETFs experienced significant outflows totaling $866 million, reflecting the challenging market conditions.