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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.

London-based Capula Management—which oversees $30 billion in assets—has exposure to Bitcoin via BlackRock and Fidelity.

European Hedge Fund Reveals $420 Million in Bitcoin ETF Investments

Renowned economist Peter Schiff dismissed Bitcoin (CRYPTO: BTC) as a possible reserve asset in the wake of an 18% drop over the past seven days. What Happened: Schiff took to X on Monday to highlight that a reserve asset should have characteristics like relatively low volatility, the capacity to be readily sold when needed and a more stable value than assets it's supposed to hedge.

Peter Schiff Thinks Bitcoin 'Will Never Be A Reserve Asset,' But Others See The Drop As A 'Testament To Bitcoin's Potential'

Crypto investment firm Galaxy Digital is issuing a warning, saying that Bitcoin (BTC) layer-2s are in danger of potentially losing their funds. In a new research post, the crypto firm says Bitcoin's blocks – or files where information is stored and encrypted – are crowded due to excessive demand.

‘Only a Small Number Can Survive' – Galaxy Digital Issues Warning to Bitcoin Layer-2s Amid Scarce Blockspace

Major online brokerage platforms struggled early Monday, customers reported, as markets plunged across the board.

Fidelity, Vanguard Go Dark Amid Bitcoin, Stock Market Panic

Analyzing the claim that Bitcoin mining was banned in China in 2021. The second report from the "FUD Fighters" series.

Bitcoin Mining Was Never Banned In China

In a market downturn that has left investors scrambling, Bitcoin's performance has ignited a fierce debate about its status as a “store of value.” How This Bitcoin Crash Compares To Past Ones On March 12, 2020, infamously dubbed “Black Thursday,” Bitcoin (CRYPTO: BTC) plummeted by nearly 50%, falling from around $7,900 to below $4,000 in a matter of hours.

Crypto Carnage: Is Bitcoin's Store Of Value Thesis Now Invalidated?

Investors backed off of Bitcoin ETFs and other crypto funds last week, CoinShares said, following five straight weeks of positive flows.

Bitcoin ETFs Hit Hard as Investors Pulled $528 Million From Crypto Funds Last Week

The firm reported owning large amounts of BlackRock and Fidelity's Bitcoin ETFs.

Europe's Fourth Largest Investment Manager Discloses $500M in Spot Bitcoin ETFs Amid Market Volatility

Xapo Bank has entered the UK market, becoming the only licensed banking group to offer a combined interest-bearing USD and bitcoin account. “We're proud to announce we have successfully passported our banking license into the UK.

Xapo Bank Enters UK Market, Offers Interest-Bearing USD and Bitcoin Account

Large European hedge fund manager reported owning hundreds of millions of dollars in BlackRock and Fidelity's spot bitcoin ETFs.

Hedge fund giant Capula reports owning $464 million in spot bitcoin ETF shares

Ethereum

Bitcoin (CRYPTO: BTC) will recover faster than Ethereum (CRYPTO: ETH) from the current crypto market crash, a prominent trader predicts. What Happened: CrediBULL Crypto highlighted the current weakness of ETH against BTC, pointing out that the latter has front-run its high timeframe (HTF) demand by a few hundred dollars, while the former has wicked through it.

Will Bitcoin Or Ethereum Recover More Faster From The Crash? Here's What Technical Analysis Says

MicroStrategy Incorporated (NASDAQ:MSTR) shares are falling Monday after the price of Bitcoin (CRYPTO: BTC) dropped below $50,000. The Details: Bitcoin is trading around the $50,000 mark, down more than 15% over the past 24 hours, as volatility spreads throughout global markets Monday.

MicroStrategy Stock Crashes With Bitcoin: What's Going On?

Macro trader Alex Krüger sees the current market drawdown primarily driven by macroeconomic factors, not crypto-specific issues. What Happened: In a Monday post on X, Krüger suggested that the Federal Reserve's slow response to Japan's rate hike, rather than problems with the U.S. economy are to blame for the market crash.

Bitcoin Crash Not Caused By Potential Recession, But Watch These Data Releases, Trader Says

Polymarket traders are taking the market crash as an opportunity to place bets. So far, they results are looking extremely bearish.

41% of Polymarket Bettors Think Bitcoin Will Go Below $45,000 Before September

A widely followed crypto analyst is issuing a warning about Bitcoin (BTC), saying that traders shouldn't rule out the crypto king dropping below $50,000.

Crypto Strategist Issues Bitcoin Alert, Says New BTC Six-Month Lows Should Not Be Ruled Out

Bitcoin dominance has surged to hit a yearly high above other cryptocurrencies amid a wider market pullback.

Bitcoin dominance surges to 60% amid crypto market downturn

Bernstein's analysts see no “incremental negatives” for crypto, adding that bitcoin remains a “Trump trade” ahead of U.S. elections.

Bernstein says bitcoin not to blame for price crash, remains a ‘Trump trade' ahead of US elections

Bitcoin dominance has hit its current high water mark as crypto markets have been rocked by macroeconomic headwinds.

Bitcoin Dominance Hits 3-Year High Amid Market Turmoil

As of 9 a.m. EDT on Monday, the crypto market experienced a $1.15 billion loss in derivatives positions, with $975.93 million of these being long positions. Of that total, approximately $403.82 million came from BTC positions, while $364.98 million resulted from ETH positions being liquidated.

Crypto Carnage: $1.15B in Leveraged Positions Annihilated as Bitcoin Nosedives

Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) lead the cryptocurrency market freefall, as experts addressed growing concerns about a global recession. What Happened: A perfect storm of economic fears, geopolitical tensions, and leveraged positions has sent shockwaves through the digital asset space, with investors fleeing riskier assets.

EXCLUSIVE: Bitcoin Crashes 17%, Ethereum Plummets 23% — Is The Crypto Bear Market Here?

Reflections on the recent support growing for Donald Trump in the Bitcoin space, and whether this is actually a rational long term decision.

Trump and the Future of Bitcoin

"We don't see any incremental negatives for crypto here," the analysts wrote.

Bitcoin Institutional Adoption 'Remains on Track' Despite Market Turbulence: Bernstein

The latest price moves in bitcoin (BTC) and crypto markets in context for Aug 5, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Bitcoin Crashes to $50K as 'Perfect Storm' Hits Crypto Market

Cryptocurrencies, including Bitcoin (CRYPTO: BTC), have long been perceived as highly volatile assets, especially by traditional investors, and this trait has somewhat hindered their mainstream acceptance. Interestingly, AI powerhouse NVIDIA Corp. (NASDAQ:NVDA), which has enjoyed a spectacular run in the equity market this year, could record more price volatility than the world's largest cryptocurrency in the days to come.

Nvidia Trumps Bitcoin In Volatility? Despite A 12% Plunge Over 24 Hours, King Crypto May Witness Fewer Price Swings Than AI powerhouse In The Days Ahead

The price of Bitcoin (BTC) has dropped significantly as the largest cryptocurrency lingers above the psychological price level of $50,000.

News for Bitcoin Crypto (BTC)