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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.

BlackRock says sovereign wealth funds and pensions are having diligence conversations about Bitcoin ETFs, signaling growing institutional Bitcoin adoption despite recent outflows.

BlackRock: Sovereign Wealth, Pension Funds Considering Bitcoin ETFs

The cryptocurrency is already showing signs of maturity as its volatility drops to all-time lows on a yearly scale, the report said.

Bitcoin's Volatility Is Falling and This Will Continue as It Matures: Fidelity

Dogecoin

Ethereum

Solana

Leverage traders are seeing red after Bitcoin (BTC) suddenly plummeted below $58,000, dragging altcoins down with it. According to crypto data aggregator Coinglass, over $448,490,000 in liquidations have occurred in the last 24 hours – more than 84% from leveraged longs. Leading exchange OKX hosted the largest amount of liquidations at $171.

Over $448,000,000 in Bitcoin, Ethereum, Solana, Dogecoin and Other Coins Liquidated As BTC Crashes Below $58,000

According to a 13F report, BNP Paribas purchased IBIT shares in the first quarter of 2024—albeit less than 1 BTC worth at current prices.

Second-Largest European Bank BNP Paribas Bought BlackRock Bitcoin ETF Shares: SEC Filing

Bitcoin (CRYPTO: BTC) spot ETFs recorded substantial net outflows on Wednesday, marking a significant realignment in investor sentiment. What Happened: According to data from SoSoValue, the total net outflow from these ETFs reached a record high of $564 million in a single day.

Bitcoin Spot ETFs Experience Record $564M Outflows, Expert Attributes It To 'Combination' Of Forces

The asset manager has been helping educate pension funds, endowments and sovereign wealth funds about the new spot bitcoin ETF products, the firm's head of digital assets said.

BlackRock Sees Sovereign Wealth Funds, Pensions Coming to Bitcoin ETFs

Bitcoin and Ethereum are rebounding after a rough couple of days leading up to the Federal Reserve deciding not to change interest rates.

Bitcoin and Ethereum Rebound as Interest Rates Remain Unchanged in US

Recent 13F filings show Europe's second largest bank, BNP Paribas, has purchased Bitcoin exposure via a US spot Bitcoin ETF.

Second Largest European Bank is Buying Bitcoin ETF: 13F SEC Fillings

Bitcoin derivatives traders are positioning themselves for a summer lull in market activity, according to an analyst.

Bitcoin options positioning anticipates summer slowdown, analyst says

Recently, traders have sold $80,000 BTC call options expiring at the end of May to generate additional yield, one observer said.

Bitcoin 'Call Writing' Back in Vogue as Cash And Carry Strategy Loses Shine

Widely followed analyst Benjamin Cowen is warning that Bitcoin (BTC) could fall further after the flagship crypto asset hit a low last recorded in February. Cowen tells his 801,000 YouTube subscribers in a new video that Bitcoin could experience more downward pressure if the price falls below the 100-day simple moving average (SMA).

Bitcoin Could Undergo a ‘Little Bit Bigger of a Drop' if Indicator That's Acted as Support Flips: Benjamin Cowen

With the unveiling of the Runes protocol, Bitcoin (CRYPTO: BTC) is set to make a landmark progression in its technological capabilities, particularly in fungible token issuance. This innovative protocol, created by Casey Rodarmor, is strategically launching in conjunction with the recently concluded Bitcoin Halving event in April, promising to expand Bitcoin's utility beyond just a store of value.

EXCLUSIVE: Runes Could Transform Our Understanding Of Bitcoin, Experts Tell Benzinga

The director of marketing at blockchain analytics firm Santiment, Brian Quinlivan, is listing two developments that could ignite a recovery in the price of Bitcoin (BTC).

Here's When Bitcoin Could Halt the ‘Slide' and Start To Pump, According to On-Chain Analytics Firm Santiment

Fidelity's FBTC, not GBTC, let outflows on Wednesday in what may be an alarming development for the bulls.

U.S. Bitcoin ETFs Bleed Record $563M Even as Fed's Powell Rules Out Rate Hike

Standard Chartered Bank has warned that Bitcoin's recent drop below the $60,000 mark could be the beginning of more significant losses in the near future.

Bitcoin Faces Potential Further Decline to $50,000, Says Standard Chartered Bank

Fidelity's FBTC saw $191 million moved out of the fund, while BlackRock's IBIT saw its first net daily outflow.

Spot bitcoin ETFs record largest daily net outflows ever

Alliance Resource Partners (ARLP), a coal mining company in the U.S., recently disclosed its use of underutilized electricity loads for bitcoin mining. Cary Marshall, the company's CFO, revealed that ARLP concluded the first quarter of 2024 with an approximate total of 425 bitcoins.

US Coal Miner Uses Excess Power to Mine BTC; Earns 61 Coins in Q1 2024

Renowned economist Mohamed El-Erian shared a comprehensive table of financial returns for major assets and asset classes, highlighting the volatility of the market in April. What Happened: El-Erian, in his post on X, acknowledged the challenging market conditions in April, despite the solid year-to-date returns.

Bitcoin Tops Returns In All Asset Classes Amid 'Repeatedly Disappointing Inflation Data': Mohamed El-Erian Shares Insights On Market Volatility

The total value locked (TVL) in decentralized applications (defi) experienced a 7% decrease, dropping $10 billion in April, with defi's ecosystem ending the month at $138.6 billion despite a widespread outflow of funds from several blockchains, such as a significant drop in Avalance and Solana.

Defi's TVL Declines by $10 Billion in April Despite Growth in Bitcoin and Newer Blockchains

Microstrategy has introduced a new enterprise decentralized identity platform, Microstrategy Orange, during the Bitcoin for Corporations segment at Microstrategy World 2024 event in Las Vegas.

Microstrategy Plans to Launch a Decentralized Identity Solution on Bitcoin

As the cryptocurrency market continues to experience turbulence, Bitcoin (CRYPTO: BTC) might be on the brink of a significant upswing, according to historical data. What Happened: Ali Martinez, a prominent crypto analyst, took to social media platform X to share a promising insight.

Bitcoin's Historical Data Suggests A Potential 99% Surge, Says Crypto Analyst: 'Time To Buy The Dip!'

Michael Saylor announced the Orange protocol for decentralized identification, hoping to anchor digital identities in the dominant blockchain.

MicroStrategy Is Building ‘Decentralized ID' on Bitcoin Using Ordinals-Like Inscriptions

Michael Saylor and the MicroStrategy Executive Vice President announce the company's latest Bitcoin innovation at MicroStrategy World: Bitcoin for Corporations 2024.

MicroStrategy Announces Decentralized ID Platform On Bitcoin Called MicroStrategy Orange

BOB announces the launch of its Bitcoin layer-2 protocol, with more to come over the next three weeks.

Build on Bitcoin Launches Mainnet With Over 40 Apps

Economist and gold advocate Peter Schiff has declared bitcoin to be in a bear market, despite the recent surge in interest in spot bitcoin exchange-traded funds (ETFs). Additionally, he cautioned that economic data provides conclusive evidence that stagflation is not merely a future prospect for the U.S. economy, “but already a current reality.

News for Bitcoin Crypto (BTC)