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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.

In April, bitcoin miners amassed the second-highest monthly revenue of the past year, following the unprecedented earnings in March. In total, they collected $1.79 billion, which, although $220 million less than the previous month, still exceeded the revenues of December 2023, which totaled $1.56 billion.

Bitcoin Miners Log Second Highest Monthly Revenue in April, Despite Falling Hash Value

Jim Bianco of Bianco Research doubled down on his warning that spot Bitcoin (CRYPTO: BTC) ETF buyers might soon cause significant selling pressure for the market. What Happened: Bianco pointed out that the average purchase price of spot Bitcoin ETF buyers is between $57,000 and $58,000, implying that around $37 billion in spot BTC assets (excluding GBTC) are currently sitting at break-even or a small loss.

Bitcoin ETF Retail 'Degens' Could Start Selling Their Positions At $58K, Analyst Warns

The firm totaled the amount of bitcoin held by governments, funds and institutions as it makes the case for investing in the cryptocurrency.

VanEck says about $175 billion in bitcoin held by ETFs, nations and companies

An Elliptic report shows how MIT-IBM AI Labs used deep learning AI techniques to detect fraud on the world's dominant blockchain.

Here's How AI Can Help Find Money Laundering on Bitcoin

Economist and trader Alex Krüger shared thoughts on the current state of the cryptocurrency market, pointing out what, according to his interpretation, is driving the current price action and why the bull market is not over yet. What Happened: Krüger highlights Bitcoin (CRYPTO: BTC) ETF as the primary force behind the cycle, while Ethereum (CRYPTO: ETH) has been a “major disappointment” despite performing well for stakers and airdrop farmers.

How Bitcoin ETFs And Crypto Market's 'PTSD' Caused 'Scammy Memecoin Launches': Alex Krüger

Bitcoin's price increased back above the $58,000 mark on Wednesday after the Fed kept interest rates at their current level on Wednesday.

Bitcoin back above $58,000 as Fed cites ‘lack of further progress' fighting inflation

Ethereum

Amid signs of stubborn inflation in the U.S., the central bank kept its key interest rate at its highest level in over 23 years.

Bitcoin, Ethereum Trade Sideways as Fed Leaves Interest Rates Untouched

Investors often leave during the “local bottom.” and one analyst suggests BTC is reaching that point.

Bitcoin Could Rebound As ‘Paper Hands' Investors Flee, Analysts Say

Jack Dorsey's Block is reportedly under investigation for compliance issues, including with its Bitcoin business.

Feds Are Investigating Jack Dorsey's Block Over Bitcoin Biz: Report

Bitcoin has started the month of May with another downward move, so far touching the $56,480 level after an already red April. The breakdown coincides with several whales – known and unknown – sending massive amounts of coins to crypto exchanges, presumably to sell on the open market.

Billionaire Whale Deposits Over $147,980,000 in Crypto to Kraken As Bitcoin (BTC) Kicks Off May With More Red

Crypto research firm 10x Research on Wednesday underscored its prediction that the ongoing Bitcoin (CRYPTO: BTC) correction may take prices into the low $50,000s. What Happened: In their latest email newsletter, the team around lead analyst Markus Thielen highlight the differing risk management approaches between institutional investors and retail traders.

Why Bitcoin Might Drop Another 20%: 10x Research

AUSTIN, TEXAS — The founder of Bitcoin layer-2 protocol Rootstock has detailed plans for a new "BitVMX" project designed to improve the oldest blockchain's programmability by keying off developer Robin Linus's much-discussed "BitVM" design unveiled last year.

Bitcoin's Ethereum-Style Programmability Could Come in 12 Months, Rootstock Founder Says

The biggest digital coin still has room to fall, the British firm said in a new report.

Bitcoin Hasn't Hit the Bottom Yet, Says Standard Chartered

Lummis argued the Department of Justice's position on self-custody "contradicts existing Treasury guidance" and "violates the rule of law."

'Bitcoin Senator' Cynthia Lummis Blasts DOJ Stance on Private Crypto Wallets

BlackRock's BUIDL fund, created with Securitize, has $375 million in assets under management.

Bitcoin ETF Leader BlackRock Leads $47M Funding Round in Securitize

Alejandro De La Torre believes Bitcoin mining is dangerously centralized and plans to put power back into the hands of solo miners with DEMAND.

DEMAND Pool's CEO Says The Time To Decentralize Bitcoin Mining Is Now

Tether's Bitcoin investment is paying off, achieving much greater profit than the company's immense bond portfolio.

Tether Netted $4.52 Billion Q1 Profit Thanks To Bitcoin Gains

On Tuesday, U.S. spot bitcoin exchange-traded funds (ETFs) registered their fifth consecutive day of net withdrawals, documenting a substantial $161.6 million in negative outflows. Over the last two days, Grayscale's Bitcoin Trust (GBTC) has offloaded 1,731.56 BTC, diminishing its reserves to 296,713.90 BTC. Bitcoin ETFs Continue to See Persistent Outflows Since April 24, 2024, U.S.

US Spot Bitcoin ETFs Report 5 Straight Days of Outflows, Totaling $635 Million

Pseudonymous crypto trader Altcoin Sherpa took to his social media account to share valuable insights on how to interpret weakening support levels in the Bitcoin (CRYPTO: BTC) market. What Happened: Sherpa uses an analogy of a dropped ball to explain how the first bounce off a support level is typically the strongest, with subsequent bounces becoming progressively weaker.

This Trader Sees Bitcoin Dropping To $40,000 And Still Be Fine: 'Expect Lower Prices But Don't Panic Sell'

DOJ announced criminal tax fraud charges against a prolific Bitcoin investor named Roger Ver, who came to be known as "Bitcoin Jesus" for getting in early on the digital currency and making a fortune.

DOJ charges 'Bitcoin Jesus' with $48 million tax fraud, seeks extradition

The price of Bitcoin (BTC) has fallen steadily and reached its historic low on April 17, 2024. Now the largest cryptocurrency has dropped to a low of $57,729 before its uptrend.

Bitcoin Falls Back To Its Low Of $57,729

Former President Donald Trump's crypto portfolio is taking a heavy hit, as Bitcoin plummeted below the $58,000 mark. What Happened: Blockchain analytics firm Arkham Intelligence data shows Donald Trump's wallet is currently valued at $5.17 million—meaning the former President's portfolio has seens a drawdown of over $1 million in the last two days alone.

How Bad Is Donald Trump's Crypto Portfolio Down With Bitcoin Below $58K?

The cryptocurrency is now trading below the average spot ETF purchase price of about $58K, and this could trigger liquidations, the report said.

Bitcoin Could Drop Further to as Low as $50K, Standard Chartered Says

Bitcoin spot Exchange-Traded Funds (ETFs) experienced a substantial outflow of funds, totaling $162 million on Tuesday, according to financial analytics firm SoSoValue. What Happened: The Grayscale Bitcoin Trust (OTC:GBTC) alone saw a withdrawal of $93.2277 million, contributing significantly to its historical net outflow of $17.303 billion.

Spot Bitcoin ETFs Bled Another $162 Million On Tuesday

MicroStrategy hosts its Bitcoin for Corporations conference today, featuring leaders discussing how firms can adopt BTC as a treasury asset like MicroStrategy's pioneering strategy.

News for Bitcoin Crypto (BTC)