• Marathon Digital Holdings (MARA) announces a $250 million private offering of convertible senior notes to buy more Bitcoin.
• Lookonchain data shows that 10 Bitcoin Spot ETFs recorded a net outflow of 4,255 BTC worth $254.17 million on Monday.
• On-chain chain data shows negative signs for BTC, signaling a bearish trend ahead.

Bitcoin (BTC) is trading slightly down by 0.5% at $59,039 on Tuesday, struggling to recover from the 3.6% drop seen on Sunday. Continued outflows from US-listed Bitcoin Exchange Traded Funds (ETFs) on Monday and bearish signs from on-chain data appear to be a drag on Bitcoin’s price prospects in the near-term, outweighing the move from mining company Marathon Digital Holdings (MARA), which has laid out plans to raise $250 million to acquire more Bitcoin.