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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.

Bitcoin rose to $70,206 at 20:03 GMT on Monday, adding $3,931 to its previous close.

Bitcoin rises to $70,206

The successful implementation of BTCPay Server at the Bitcoin Asia conference demonstrated that bitcoin can easily be used for payments.

Case Study: Enabling Bitcoin as a Medium of Exchange at the Bitcoin Asia Conference in Hong Kong

Bitcoin is back above $70,000 for the first time in over a month as investors throw money at ETFs again—and hype over Ethereum ETFs grows.

Bitcoin Price Hits $70,000 as Crypto Liquidations Top $235 Million

Ethereum

Cryptocurrency markets are surging on strong Spot Bitcoin ETF weekly inflows and a bombshell development that spot Ethereum ETFs may have a good chance of being approved after all on Thursday. What Happened: Major cryptocurrencies are trading higher at the time of writing.

Bitcoin Smashes $70K, Ethereum Pumps 12% On ETF Approval Bombshell: 'Odds Of Approval 75%,' Tweets ETF Analyst

The CEO of the first federally-chartered bitcoin bank believes that institutions are ready to engage with Bitcoin and that his company is well-positioned to serve them.

Institutional Bitcoin Adoption: Insights from Nathan McCauley, CEO of Anchorage Digital

The price of BTC has risen above $68K and ETF flows last week reflect the rebound, both surging thanks to promising inflation data, one analyst says.

Bitcoin ETFs Are Back With Nearly $1 Billion In Fresh Cash

The fund's first project is defending Keonne Rodriguez and William Lonergan Hill, founders of Samurai Wallet.

Bitcoin Policy Institute Launches Fund to Defend Non-Custodial Tools from Regulatory Threats

Solana

Inflows into the spot bitcoin ETFs restarted in a big way last week as the price rallied from near the $60K level.

Bitcoin Breaks Out Above $68K as SOL's 7% Gain Leads Crypto Rally

Marketing is obscuring the true nature of Bitcoin layer 2 proposals

The New Wave Of Bitcoin L2s Are Sidechains

New data from Bitcoin brokerage firm River reveals that the largest US hedge funds have combined to accumulate billions of dollars worth of BTC exchange-traded (ETF) shares.

Largest US Hedge Funds Collectively Own Over $2,600,000,000 in Bitcoin ETF Shares: BTC Brokerage Firm River

Venezuelan authorities have launched a crackdown on Bitcoin miners, and don't want any crypto mining operations to use the energy grid.

Bitcoin Miners Targeted by Venezuela in Latest Crypto Crackdown

The Bitcoin (CRYPTO: BTC) Fear and Greed Index has shifted to a bullish stance, according to a fresh report, which emphasized a promising trading strategy amid the changing market conditions. Event Risk And Market Movements The week ahead poses significant event risks, including the unlocking of $800 million in PYTH (CRYPTO: PYTH) supply on May 20 and another $340 million from AVAX (CRYPTO: AVAX) on May 21, according to a report from 10x Research.

Bitcoin Fear And Greed Index Turns Bullish: 10x Research Highlights Key Trade Strategy

Craig Wright lied “extensively and repeatedly,” in addition to presenting “fabricated” evidence of his claims to Bitcoin creator Satoshi Nakamoto's name and inventions, a UK Judge said Monday in a written judgment.

UK High Court judge says Craig Wright lied ‘extensively and repeatedly' in COPA lawsuit over Satoshi, Bitcoin copyright claims

With bitcoin's price up 6.8% from last week, a dormant bitcoin address from 2013 became active for the first time in over 11 years, transferring 114.42 bitcoins valued at $7.67 million.

Dormant Bitcoin Wallet Transfers 114 BTC Worth $7.6M After 11 Years

Bitcoin Magazine editor Pete Rizzo took to his X account to share the story of Zhao Tong, who created the first-ever crypto margin exchange, Bitcoinica, and ultimately lost 99,000 Bitcoin (CRYPTO: BTC) with its downfall. What Happened: Tong, a 16-year-old Chinese teen, discovered Bitcoin in 2010 and was captivated by the idea of sending money globally.

This Chinese Teen Built A Bitcoin Exchange And Lost Out On $6B When It Got Hacked

An Australian computer scientist who claimed he invented bitcoin lied "extensively and repeatedly" and forged documents "on a grand scale" to support his false claim, a judge at London's High Court ruled on Monday.

Self-proclaimed bitcoin inventor lied 'repeatedly' to support claim, says UK judge

Jim Bianco, founder of Bianco Research, has cast a critical eye on the recent popularity of spot Bitcoin ETFs, painting a picture of these instruments as potentially hindering, rather than helping, the growth of a decentralized financial system. What Happened: Bianco's primary observation from the Q1 13F filings was that a mere 3% of the outstanding market capitalization of Spot BTC ETFs is held by investment advisors.

Spot Bitcoin ETFs Are 'Orange FOMO Poker Chips,' Jim Bianco Warns

Bitcoin's three-month annualized basis increased above 10% over the weekend, showing the market is building positive sentiment, analysts say.

Bitcoin's futures basis increases after last week's softer US inflation print

Crypto trader CrypNuevo discussed Bitcoin's (CRYPTO: BTC) journey towards a high-timeframe (HTF) liquidation zone centered around $69,000, pointing out liquidity runs' potential mechanics and implications. What Happened: CrypNuevo notes that Bitcoin is gradually approaching the $69,000 liquidation zone, emphasizing the usual pattern of "liquidity runs" that occur before hitting significant liquidation areas.

Bitcoin Is Working Its Way Towards This 'Liquidation Zone' But There Is One Danger, Trader Warns

GameStop GameStop stock rocketed higher before crashing back to earth last week following the following the return of meme stock hero Roaring Kitty (AKA Keith Gill) to social media.

After GameStop Price Crash, Meme Stock Traders Have A Surprising New Bitcoin And Crypto Target

The latest price moves in bitcoin (BTC) and crypto markets in context for May 20, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: BTC, ETH Little Changed Ahead of Ether ETF Decision

Grayscale's converted GBTC U.S. spot bitcoin ETF also witnessed its first net weekly inflows totaling $12.3 million last week.

US spot bitcoin ETF rebound continues with nearly $1 billion in net weekly inflows

05/20 update below. This post was originally published on May 18

Top CEO Bets On A Shock Biden Crypto Flip As Congress Hurtles Toward A ‘Crucial' Vote That Could Blow Up The Price Of Bitcoin, Ethereum And XRP

Week 19 of spot Bitcoin ETF trading saw a net inflow of $948 million with a trading volume of $8.5 billion. What Happened: This marks a positive weekly inflow compared to the past eight weeks, with the weekly Bitcoin (CRYPTO: BTC) candle closing above the middle line of the current correction phase.

Spot Bitcoin ETF Saw Two-Month High Of $948M Net Inflows Last Week

As of May 20, 2024, bitcoin is trading at $67,224, reflecting a strong market performance. The cryptocurrency has experienced a 24-hour range between $66,000 and $67,431, with a market capitalization of $1.32 trillion and a trading volume of $21.18 billion.

News for Bitcoin Crypto (BTC)