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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.

Dogecoin

Ethereum

Cryptocurrency markets are struggling to hold on, with Bitcoin clinging to the $60,000 mark. The struggle comes amid various underlying factors like falling consumer sentiment, missing economist forecasts and a looming $2 billion of token unlocks over the next ten weeks.

Bitcoin Clinging On To $60K, Ethereum, Dogecoin Bleed: 'Bitcoin's Final Move Will Be The Most Aggressive,' Predicts Trader

Wells Fargo has disclosed exposure to Bitcoin via several crypto product investments, a filing with the SEC shows.

Banking Giant Wells Fargo Reveals Investments in Bitcoin ETFs

CEO Elizabeth Stark said that Lightning Labs just ran a test transaction with an asset created using its Taproot Assets protocol.

Lightning Labs Is Bringing Stablecoins to the Bitcoin Blockchain: CEO

The Fed will likely cut rates later this year, which will bolster Bitcoin's price, predicts CoinShares.

Bitcoin Price Is Again Dictated By Fed Policy: Analyst

Olaoluwa Osuntokun, co-founder and CTO of Lightning Labs, recently executed the first successful mainnet multi-hop asset payment using Taproot Asset channels, marking a new development in asset transfer capabilities over the Lightning Network.

Lightning Labs CTO Conducts First Mainnet Multi-Hop Asset Payment via Taproot Asset Channels

The U.S. spot bitcoin exchange-traded funds (ETFs) witnessed an outflow of $11.3 million during Thursday's trading sessions, following an inflow of $11.5 million on Wednesday. Although the majority of funds experienced inflows on Thursday, significant outflows from Grayscale's Bitcoin Trust (GBTC) eclipsed these gains.

GBTC's Heavy Withdrawals Result in Net $11.3M Outflow in US Bitcoin ETFs

Bitcoin (CRYPTO: BTC) bulls hoping for a seven-figure price by 2028 may be disappointed, according to a new report by 10x Research. What Happened: The report, authored by Markus Thielen, questions the validity of the Stock-to-Flow (STF) model in predicting future Bitcoin prices.

Bitcoin To $1.3M By 2028? Questionable, Says 10x Research

Dorsey, who led the social media platform from 2015 to 2021, developed a strong interest in crypto during that time and is now fully focused on the sector.

Jack Dorsey Says Bitcoin Price Will Go Beyond $1 Million in 2030

Wells Fargo reported owning Grayscale's spot Bitcoin ETF.

Wells Fargo, America's Third Largest Bank, Owns Spot Bitcoin ETFs: SEC Filing

Bitcoin open interest is concentrated at a strike price of $75,000 for the end-of-June expiry, an analyst said.

Bitcoin options traders bet price could surpass all-time high by end of June, analyst says

BlackRock's IBIT and Fidelity's FBTC passed $10 billion AUM in about 49 and 77 trading days respectively.

IBIT and FBTC ETFs hit $10 Billion AUM in weeks, smashing previous record of three years: analyst

Volumes across exchanges like Binance, Coinbase and OKX dropped in April, the first time since late last year.

Crypto exchange volumes drop for first time in 7 months as bitcoin price declined

Stagflationary U.S. economic data and hawkish remarks from a Fed speaker appeared to sour the bullish mood.

Bitcoin's Modest Rally Cut Short, Price Tumbles Back Below $61K

Both Bitcoin and Ethereum plunged early Friday, prompting a wave of crypto long positions to be liquidated.

Bitcoin and Ethereum Tank as Crypto Liquidations Top $150 Million

Customers can now pay for luxury travel using CoinCorner's Bitcoin payment solution.

Private Jet Charter Service Candy Jets Now Accepts Bitcoin Payments

A widely followed crypto strategist believes Bitcoin (BTC) could suddenly plunge much lower. In a new post, crypto analyst Justin Bennett tells his 111,300 followers on the social media platform X that if Bitcoin fails to hold $61,000 as support the crypto king could remain in a downtrend for a while.

Analyst Justin Bennett Says Bitcoin's in a ‘Slow Bleed' and on the Cusp of Plunging Further – Here Are His Targets

The dollar has reacted negatively to an up-tick in U.S. jobless claims, benefiting bitcoin alongside equity markets, an analyst said.

Bitcoin benefits from US dollar downturn, analysts say

Han expected the products to have a slow start but that with greater appeal across the Asia region, the Hong Kong ETFs had the potential to grow to double the size of the U.S. products.

Harvest CEO ‘doesn't rule out' applying to offer bitcoin, ether ETFs to mainland Chinese investors: SCMP

Bitcoin (CRYPTO: BTC) moved higher, with the cryptocurrency prices rising past the key $63,000 level on Friday. Ethereum (CRYPTO: ETH) also recorded gains, trading above the key $3,000 mark this morning.

Bitcoin Tops $63,000; Akash Network Emerges As Top Gainer

Cathie Wood, CEO of asset management firm Ark Invest, is known for making outlandish projections about the future of cryptocurrencies. While these predictions would make any investor in the tokens much wealthier, there are some very strong assumptions behind the predictions that have a very low probability of actually occurring.

Kevin O'Leary Responds To Cathie Wood's Bitcoin Prediction: 'The U.S. Economy Would Have To Collapse'

As of May 10, 2024, bitcoin exhibits a promising recovery trajectory, albeit amidst mixed market signals across various technical frameworks. Following an intraday fluctuation ranging from $60,954 to $63,388, at present, bitcoin is coasting along values between $62,861 to $63,272 per unit, suggesting a market grappling with both bullish and bearish sentiments.

Bitcoin Technical Analysis: Bulls Seek to Regain Upward Momentum

RNDR cheers Apple's brief mention of Render-powered 3D design software Octane.

TON, RNDR Surge More Than 13% as Bitcoin Rebounds to $63K

The latest price moves in bitcoin (BTC) and crypto markets in context for May 10, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Bitcoin Holds Near $63K, Consolidating Week's Recovery

Former Twitter CEO Jack Dorsey predicts Bitcoin could reach at least $1 million by 2030, citing Bitcoin's collaborative ecosystem and growing mainstream adoption as key price drivers.

Jack Dorsey Predicts Over $1 million Bitcoin Price by 2030

Bitcoin spot exchange-traded funds (ETFs) saw net outflows of $11.29 million on May 9. What Happened: The Grayscale Bitcoin Trust (OTC:GBTC) registered a substantial net outflow of $43.3522 million, while the BlackRock Bitcoin Trust (NASADAQ: IBIT) experienced a net inflow of $14.1946 million.

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