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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 (CRYPTO: BTC) is carefully maintaining the $60,000 support level, navigating a delicate balance between bullish optimism and bearish caution. What Happened: This week, as traditional financial sessions commence, Bitcoin remains anchored in a familiar range, yet poised for potential volatility influenced by impending U.S. macroeconomic data and remarks from Federal Reserve Chair Jerome Powell.

Bitcoin Up 3%: What Will Inflation Data And Powell Speech Bring This Week?

Zest Protocol, a bitcoin lending startup with just six employees, has secured $3.5 million in a funding round led by billionaire investor Tim Draper.

Tim Draper leads $3.5 mln fundraise for six-employee startup behind bitcoin lending

The seed raise was led by billionaire investor Tim Draper with participation from Binance Labs, Flow Traders, Trust Machines and others.

Zest Raises $3.5M, Led by Tim Draper, for On-Chain Bitcoin Lending Using Stacks

The latest price moves in bitcoin (BTC) and crypto markets in context for May 13, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Bitcoin Fails to Hold $63K, May Remain Range-Bound

The shift was mirrored by global crypto ETPs attracting $130 million in net inflows, inclusive of the U.S. spot bitcoin ETFs.

US spot bitcoin ETFs return to net inflows following four weeks of outflows

Lower cost miners have increased market share since the bitcoin halving event, the report said.

Bitcoin Mining Difficulty Slumped Last Week in Biggest Decline Since Crypto Winter: Bernstein

El Salvador recently partnered with Mempool to launch a real-time website to track their nation's Bitcoin treasury of $360 million.

El Salvador Launches Website to Track $360M Bitcoin Treasury

Spot Bitcoin exchange-traded funds (ETFs) experienced net outflows on Friday, highlighting some investor caution amid ongoing price volatility. What Happened: According to data from SoSoValue, total net outflows for Bitcoin spot ETFs reached $84.6581 million on May 10.

Spot Bitcoin ETF Inflows Slip On Regulatory Banana Skins

As of May 13, 2024, bitcoin exhibits mixed signals across various time frames and technical indicators, presenting a complex landscape for traders. The leading crypto asset's price currently stands at $62,792, reflecting a slight increase within the 24-hour range from $60,776 to $63,156. Despite a recent 2% uplift, bitcoin remains down by 3.

Bitcoin Technical Analysis: Bulls Set Sights on a Glimmer of Recovery

One trader said recent declines are likely related to miners' asset sell-offs and fears of tighter regulation of cryptocurrencies.

Bitcoin Below $60K Could Trigger 'Panic' Selling, Crypto Analyst Says

Bernstein analysts said they don't anticipate any major drawdown here and expect BTC to remain range-bound before breaking out to the upside.

Bernstein argues bitcoin's ‘flattish' price action is great for public miners

Bitcoin posted an uptick on Monday as traders await U.S. inflation data, which could help determine the likelihood of rate cuts in 2024.

Bitcoin price gains ahead of this week's US inflation prints

The regional turmoil and historic flooding that rocked Dubai during Token2049 did not stop over five hundred Ordinals enthusiasts attending the first ‘Ordinals Meetup' hosted by the Ordinals Council. Some even had to wade knee deep through the flooded neighborhoods, I was one of them, all to find out what Ordinals are and what all the fuss is about.

BRC20 Ordinals: Bitcoin's High-Tech Leap Or A Distraction?

Onchain bitcoin analyst Willy Woo predicts that the leading cryptocurrency will reach the $1 million milestone within the next decade. During what he describes as “a time to be alive,” Woo anticipates witnessing a purge of central bank corruption.

Analyst Forecasts BTC to Reach $1 Million in 10 Years, Envisions It as Future Reserve Currency

The transfers were made via two potentially related wallet addresses, moving 500 BTC each in close proximity.

Bitcoin worth over $60 million moved for the first time in 10 years

The Tokyo-listed company has adopted bitcoin as its treasury reserve asset in response to mounting government debts and weakening yen.

Japan's Metaplanet adopts bitcoin as reserve asset amid yen slump

In a significant move towards transparency, El Salvador's National Bitcoin Office (ONBTC) has announced the launch of its own mempool space. This development allows anyone to view the country's bitcoin treasury holdings. The initiative is supported by Mempool, which revealed it has provided a custom instance of The Mempool Open Source Project for the ONBTC.

El Salvador Enhances Bitcoin Treasury Transparency With Launch of Dedicated Mempool Space

A crypto trader who nailed the 2022 Bitcoin bottom thinks that BTC is at risk of witnessing an over 15% correction. In a new strategy session, pseudonymous analyst DonAlt tells his 59,300 YouTube subscribers that Bitcoin is in danger of losing its range low and support at $61,000 again after reclaiming it earlier this month.

Top Analyst Issues Bitcoin Warning, Says BTC at Risk of Flashing ‘Ginormous' Sign of Weakness

The announcement comes at a time when Japan's fiscal crisis is said to be playing out in the currency market.

Metaplanet Makes Bitcoin a Reserve Asset As Japan's Debt Mountain Grows

El Salvador, the first country in the world to adopt Bitcoin (CRYPTO: BTC) as legal cash, launched its own platform to make information on its treasury holdings accessible and transparent to the general public. What Happened: According to the National Bitcoin Office, an agency tasked by the El Salvador government to oversee all things related to the cryptocurrency, informed via an X post about the launch of a mempool-like space, where details like treasury holdings and Bitcoin transactions in can be tracked 24×7.

El Salvador Is Making It Easy For Everyone To Know How Much Bitcoin The Country Holds, Launches New Platform Aimed At Fostering Transparency

Recent options data from Binance has revealed a concentration of open interest in bitcoin options at a strike price of $75,000 for the end-of-June expiry.

Bitcoin Options Data Indicates Expectations of Price Surge Towards Highs by End June

The Runes protocol, known for enabling the creation of fungible tokens on the Bitcoin blockchain, has experienced a significant decrease in activity since its initial week of trading.

Bitcoin's Runes Protocol Witnesses Declining Activity and Fee Revenue

Lightning Labs, the developer behind Bitcoin's Lightning Network, has conducted successful tests of a protocol aimed at enabling stablecoins to be issued on the Bitcoin blockchain.

Lightning Labs Conducts Successful Tests Enabling Stablecoins on Bitcoin Blockchain

Wells Fargo, one of the prominent banking institutions in the United States, has revealed its foray into the world of cryptocurrencies

Wells Fargo Ventures into Crypto with Bitcoin ETF Investments

In what has been a rather uneventful week for the crypto market, most cryptocurrencies experienced a downward trend.

News for Bitcoin Crypto (BTC)