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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.

The company also said it registered a net income of $210.7 million, compared to net loss of about $400,000 last year.

Core Scientific self-mined over $175 million of bitcoin in Q1, swings to profit

After net outflows in the tens of billions, investors surprisingly began buying back into GBTC earlier this week. This might explain it.

Why Bitcoin ETF Investors Are Suddenly Buying Back Into Grayscale

Dogecoin

Ethereum

Cryptocurrency markets could not push into the green, as Bitcoin (CRYPTO: BTC) spot ETF outflows resumed on Tuesday. What Happened: Major cryptocurrencies are trading slightly down at the time of writing: Prices as of 4 p.m.

Bitcoin, Ethereum, Dogecoin Trade Sideways, Trader Asks: 'Does It Matter If You Buy Bitcoin At $62,000 Or $58,000'?

The founders of crypto analytics platform Glassnode say that Bitcoin (BTC) may reach $85,200 before summer if a technical setup plays out.

$85,200 Bitcoin Before Summer? Glassnode Analysts Say BTC Breaking Out of Bullish Technical Pattern

Crypto researcher Gideon presented an unpopular opinion, stating that retail investors are unlikely to drive the ongoing bull run and Bitcoin (CRYPTO: BTC) broke an all-time high due to ETFs. What Happened: Gideon argues that the current bull market differs from the 2021 cycle, as most of the global population is no longer confined to their homes with stimulus checks, as was the case during the pandemic.

Bitcoin Retail Interest 'Not Coming This Bull', Warns Trader

This announcement comes amidst debates and discussions in Congress today regarding the regulation and oversight of digital assets.

President Joe Biden Will Veto Legislation Allowing Financial Firms to Custody Bitcoin: White House

Evan Kaloudis, the US-based founder of ZEUS, believes that now is the time to take a stand and fight for KYC-free bitcoin self-custody wallets.

Bitcoin Lightning Wallet ZEUS Isn't Going Anywhere

As technological progress compounds, the free market inexorably moves towards diluting storeholds of value. Bitcoin is the deep freeze your portfolio desperately needs.

Your Wealth Is Melting: Why Bitcoin Is The Deep Freeze Your Portfolio Desperately Needs

While Bitcoin (CRYPTO: BTC) continues to trade within a range, crypto traders DonAlt and Altcoin Sherpa have taken to X to share their thoughts on the cryptocurrency's potential price action and the importance of key support levels. What Happened: Altcoin Sherpa believes that Bitcoin is likely to continue trading within its current range, stating, "I'm of the opinion that we're still going to trade in this range and still be totally ok.

If Bitcoin Starts 'Losing The Lows' It Could Get 'Ugly' And 'Violent,' Traders Warn

This campaign seeks to replicate Bitcoin Beach's success in more communities worldwide.

El Salvador's Bitcoin Beach Launches Campaign To Advance Circular BTC Economies Worldwide

One of the most touted features of Bitcoin is its anonymity. While all transactions and portfolios are publicly available, users can hide behind wallet addresses.

Edward Snowden Goes After Bitcoin Developers: Should Bitcoin (BTC) Add More Privacy Features?

The recent downturn in BTC may have some way to travel, according to Katie Stockton, Managing Partner of Fairlead Strategies.

What Technical Analysis Tells Us About the Bitcoin Market

New on-chain data analysis suggests that while large Bitcoin (CRYPTO: BTC) holders, often referred to as “whales,” continue to accumulate Bitcoin during dips, the intensity of their buying appears to be waning. Accumulation Spree, But With Reservations According to analysis by IntoTheBlock,, addresses holding over 1,000 BTC have been actively accumulating the cryptocurrency in recent months, particularly during price dips.

Are Bitcoin Whales Buying The Dip With Less Enthusiasm?

Susquehanna International Group, a prominent quantitative trading firm, has significantly expanded its holdings in various Bitcoin-related exchange-traded funds (ETFs), according to the latest SEC filings. What Happened: As of the first quarter of 2024, the firm's investment in these digital asset vehicles surpassed the $1 billion mark, Cointelegraph reported.

Major Trading Firm Purchased $1B Worth Of Bitcoin ETFs In Q1

Following two days of positive inflows, U.S. spot bitcoin exchange-traded funds (ETFs) experienced a decline, with $15.7 million exiting on Tuesday. Grayscale's Bitcoin Trust (GBTC) saw $29 million leave during the day's trading sessions, overshadowing the break-even and positive reports from the other spot bitcoin funds.

Mixed Fortunes for US Bitcoin Funds as GBTC Losses Offset Other Gains

On-chain analyst Willy Woo thinks Bitcoin (BTC) could be primed to surge in price. Woo tells his 1.1 million followers on the social media platform X that the top crypto asset is flashing a bullish divergence “with lots of room to run” on its volume-weighted average price (VWAP) oscillator chart.

On-Chain Analyst Willy Woo Says Bitcoin Setting Up To Potentially Reach ‘Escape Velocity' – Here's Why

dogwifhat

Bitcoin (CRYPTO: BTC) moved lower, with the cryptocurrency prices falling below the key $62,000 level on Wednesday. Ethereum (CRYPTO: ETH) also recorded losses, but remained above the key $3,000 mark this morning.

Bitcoin Falls Below $62,000; Bittensor, dogwifhat Among Top Losers

Argentina partners with GDA to launch a gas flare-powered Bitcoin mining facility, using stranded gas to generate value and mitigate emissions.

Argentina to Mine Bitcoin with Stranded Gas

Bitcoin Bitcoin has stalled after a roaring back last week (though some traders are betting on an "absolutely enormous" China earthquake).

Trump And The Fed Could Be About To Trigger A $4 Trillion Bitcoin Price Boom

As of May 8, 2024, bitcoin's price is coasting along at $62,378, experiencing a 24-hour intraday range from $62,096 to $64,413, with a trading volume of $17.91 billion and a market capitalization of $1.22 trillion. Despite a decline of 2.1% over the past 24 hours, bitcoin has gained 9.3% over the last seven days.

Bitcoin Technical Analysis: BTC Faces Growing Uncertainty Amidst Market Fluctuations

The latest price moves in bitcoin (BTC) and crypto markets in context for May 8, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Bitcoin Hovers Above $62K

Bitcoin spot exchange-traded funds (ETFs) experienced a total net outflow of $15.6439 million on May 7. What Happened: The Grayscale Bitcoin Trust (OTC:GBTC) registered a substantial outflow of $28.613 million in a single day, according to data from SoSoValue Despite these outflows, the total net asset value (NAV) of the Bitcoin (CRYPTO: BTC) spot ETFs remains substantial, recorded at $52.210 billion.

Spot Bitcoin ETFs See $15M Outflows As Digital Asset Funds Continue To Bleed

Analytics firm IntoTheBlock is issuing an alert, saying that deep-pocketed Bitcoin (BTC) investors are starting to flash signs of exhaustion. IntoTheBlock says on the social media platform X that Bitcoin whales have taken every opportunity since March of this year to load up on BTC whenever the crypto king pulls back.

Whale Conviction Dwindling? Analytics Firm Looks at Accumulation Activity of Large Bitcoin Holders Following Dip

North American bitcoin miner, Hut 8, said it mined 148 bitcoins, or 36% coins less in April than it did in March. Hut 8 primarily attributes the decrease in the number of mined bitcoins to the relocation of its proprietary miners, which were previously hosted at the Kearney and Granbury sites.

Hut 8's Bitcoin Mining Output Drops 36% to 148 BTC in April

BTC's volatility risk premium (VRP) has collapsed in a sign of a market trending towards stability, where future uncertainties are less of a concern.

News for Bitcoin Crypto (BTC)