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Bitcoin

Bitcoin is a new electronic payment system that removes the need for third party financial institutions. It speeds up transactions while reducing costs and minimizing the potential for fraud. The name “cryptocurrency” points to how it uses “cryptographic proof” to work, AKA a blockchain.

Bitcoin’s concept was first introduced in 2008 when a person going by the pseudonym Satoshi Nakamoto shared a white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System.” In January 2009, the Bitcoin blockchain was launched. 

A new electronic payment system called Bitcoin removes the need for third-party financial institutions. It speeds up transactions while reducing costs and fraud-risk. The name “cryptocurrency” points to how it uses “cryptographic proof” to work, AKA a blockchain.   

Bitcoin has a finite supply of 21 million, which is expected to be reached by the year 2140. Currently, 18.8 million are circulating in the market. Note that Bitcoin represents the concept of the network, while bitcoin (lower-case ‘b’) represents the currency.

Bitcoin is one of the most well-known cryptos as it was the first decentralized currency. 

Currently, BTC’s dominance is above 40%. Bitcoin Dominance is a measure of how much of the total market cap of crypto is made up of Bitcoin. Bitcoin’s influence in the crypto ecosystem could be vulnerable to competition as alternative coins grow in popularity and utility.

Technical analyst Benjamin Cowen suggests the Bitcoin (CRYPTO: BTC) market may be repeating patterns from 2019, cautioning against expectations of an imminent bull run. What Happened: In a detailed analysis of the Pi Cycle Top indicator on his podcast, Cowen explored its historical accuracy and potential implications for the current market cycle.

Is Bitcoin Repeating 2019 Bull Run Patterns? This Indicator Suggest That May Be The Case

Gryphon Digital Mining has secured a deal to acquire Bitcoin mining operations with ultra low-cost power.

Gryphon Digital Mining Acquires Low-Cost Bitcoin Mining Operations at $0.01/kWh

Recent data from Cryptoquant researchers indicate that bitcoin demand growth continues to show signs of weakness. Despite this, the report notes that long-term holders have been accumulating bitcoin at unprecedented levels, providing some resilience to the market.

Cryptoquant: Bitcoin Demand Remains Weak Despite Accumulation by Long-Term Holders

Bitcoin is reflecting the caution in equity markets after Wednesday's U.S. employment data came in below economists' expectations.

Bitcoin trades flat following lower US jobs growth revision

Former President Donald Trump is reportedly open to offering Elon Musk a cabinet or advisor position if he wins the presidential election in November. Trump reportedly told Reuters on Monday that the Tesla chief executive is a “brilliant guy” and said he “certainly would” consider Musk for a position.

Donald Trump Plans To Offer Bitcoin Advocate Elon Musk Cabinet Position if He Wins Presidential Race: Report

Crypto expert Marty Party shared his insights on time-based capitulation, a strategy he believes is currently impacting Bitcoin (CRYPTO: BTC) and crypto holders. What Happened: Time-based capitulation occurs when investors, after enduring a prolonged period of market stagnation or slow decline, decide to abandon their investments, the influencer pointed out in his post on X.

What Is Time-Based Capitulation And Is Bitcoin Going Through One Right Now?

As bitcoin hovers just below the $60,000 mark, two long-dormant bitcoin wallets, untouched since 2014 and 2013, sprang to life, moving a total of 342.59 BTC, valued at $20.3 million at today's rates. 2 Vintage Bitcoin Wallets Suddenly Awaken, Moving $20.3 Million On Wednesday, a bitcoin wallet that had been inactive since Aug.

Dormant Bitcoin Wallets From 2013 and 2014 Come Alive Moving $20.3M

Bitcoin (CRYPTO: BTC) exchange traded funds (ETFs) are being adopted by institutional investors at a pace that outstrips any other ETF in history, according to Matt Hougan, Chief Investment Officer at Bitwise Invest. What Happened: Hougan's research reveals that Bitcoin ETFs have attracted $17.5 billion in net flows since their launch in January, putting them on track to obliterate the previous record held by the Nasdaq-100 QQQs, which gathered approximately $5 billion in their first year.

Bitcoin ETF Adoption Dwarfs All Historical ETF Launches, Says Bitwise Exec

Financial regulators and law enforcement agencies shut down 13 cryptocurrency ATMs operating without proper authorization.

German Authorities Seize $28 Million in Bitcoin ATM Crackdown

German Authorities Seize $279,000 in Bitcoin ATM Crackdown

Bitfarms Ltd. (NASDAQ:BITF) on Wednesday announced a significant move in the cryptocurrency mining sector with its acquisition of Stronghold Digital Mining, Inc. (NASDAQ:SDIG).

Bitfarms Acquires Stronghold Digital Mining In $175M Deal, Reshaping Bitcoin Mining Landscape

Job growth for the 12-months ending in March 2024 was 818,000 lower than previously reported, according to a government report.

Bitcoin Gets Brief Boost After U.S. Employment Growth Revised Lower

Bitcoin‘s (CRYPTO: BTC) extended sideways range has traders wondering when the next bullish move will come, but key indicators point to little further downside risk. What Happened: Pseudonymous trader Doctor Profit thinks that despite the $9 billion in short liquidations near $68,000 and the lowest funding rates since October 2023, the market is shifting towards a healthier state.

Bitcoin Continues Going Sideways But This Indicator Gives Bulls Hope

Theya's new feature reduces the hassle of transferring your bitcoin from an exchange into a secure self-custody setup.

Theya Introduces Direct-To-Wallet Bitcoin Purchases

Bitfarms agreed to acquire Stronghold Digital in a $175 million in stock and debt deal, which will expand its presence in the U.S.

Bitcoin miner Bitfarms to acquire Stronghold Digital in $175 million equity and debt deal

Ethereum

Ethereum dominance has declined since the current cycle's low, which was established in November 2022, according to a report.

Ethereum dominance shrinks as bitcoin gains more ground since cycle low: Glassnode

A look at privacy and payment finality in Bitcoin.

Settled, But Not Really: The Privacy Gap in Bitcoin's 'Final' Transactions

Bitcoin Lightning startup TMRW raised $1.3M to build a social, cross-border payment app leveraging Lightning's speed and low fees for remittances

Bitcoin Lightning Startup TMRW Raises $1.3 Million Funding

The mining business is a standout in the sector in terms of exahash growth, operating performance and low power costs, the report said.

Cipher's Bitcoin Mining Business Remains Compelling, Canaccord Says

On Tuesday, U.S. spot bitcoin exchange-traded funds (ETFs) saw inflows of $88.06 million, while ether ETFs experienced outflows totaling $6.49 million. Blackrock's IBIT and ETHA led the charge, capturing the largest inflows of the day. Blackrock's Bitcoin and Ether ETFs Lead the Day in Inflows Data from sosovalue.

Inflows and Outflows: Bitcoin ETFs Gain $88M, Ether Drops $6.49M

Blockchain analytics firm Arkham has reported that the defunct cryptocurrency exchange Mt. Gox transferred 12,000 Bitcoin (CRYPTO: BTC), valued at approximately $709.44 million, to an unidentified wallet on Tuesday night.

Mt. Gox Transfers $709M In Bitcoin: Are Creditor Payouts Almost Over?

The latest price moves in bitcoin (BTC) and crypto markets in context for Aug. 21, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Bitcoin Holds Below $60K Before U.S. Jobs Data Revision

Mt. Gox moved over $700 million worth of Bitcoin to unknown wallets, its first major transaction in weeks. The defunct exchange still owes billions to victims of its 2014 hack.

Mt. Gox Moves Over $700 Million in Bitcoin

Bitcoin has swung wildly in recent weeks, bouncing around $60,000 per bitcoin as traders brace for a China earthquake. The bitcoin price has dropped back from its all-time high of over $70,000 set in March as fears mount over the U.S.'s spiraling $35 trillion debt pile and billionaire Elon Musk warns of U.S. dollar "destruction" that could "bankrupt" the country.

‘Institutions Are Coming'—$35 Trillion U.S. Dollar Collapse Predicted To Trigger A Bitcoin Price Boom To Rival Gold

Long-term Bitcoin (BTC) holders seem to be doubling down on their bullish sentiment for the crypto king, according to blockchain analytics platform Glassnode.

News for Bitcoin Crypto (BTC)