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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) moved lower, with the cryptocurrency prices falling below the key $58,000 level on Wednesday. Ethereum (CRYPTO: ETH) also recorded losses, trading below the key $2,900 mark this morning.

Bitcoin Falls Below $58,000 Following ADP Report; Arweave, Stacks Among Top Losers

The analytics firm said it has made new advances in using artificial intelligence to detect money laundering with bitcoin.

Crypto forensics firm Elliptic using advances in AI to detect bitcoin money laundering

Hoseki invites other Bitcoin ETF issuers to join Bitwise in providing transparency to the public.

Bitwise First To Join New Spot Bitcoin ETF Transparency Dashboard By Hoseki

Patterns of illicit activity involving groups of bitcoin nodes and chains of transactions are described in a research paper by Elliptic and MIT-IBM Watson AI Lab.

Blockchain Sleuth Elliptic Explores AI and Anti-Money Laundering Using 200M Bitcoin Transactions

Standard Chartered sees Bitcoin falling to $50,000 near-term amid outflows and tight liquidity, but maintains a bullish long-term outlook with a $150,000 target for 2024.

Bitcoin Price Could Fall to $50,000: Standard Chartered

Bitcoin's technical analysis reveals a protracted bearish trend, reflecting significant selling pressure and resistance to upward movement. With today's price standing between $57,505 and $58,059 at 8 a.m. ET, oscillators and moving averages predominantly suggest a continuation of this decline.

Bitcoin Technical Analysis: Uncertainty Looms as Bearish Patterns Persist

The latest price moves in bitcoin (BTC) and crypto markets in context for May 1, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Bitcoin Sinks Below $58K in Run-Up to Fed Decision

Bitcoin Bitcoin Exchange-Traded Funds (ETFs) have created a link between cryptocurrencies and traditional investment vehicles in the financial market. Financial advisors, always seeking diversification and value for their client's portfolios, are paying close attention to the emergence of bitcoin ETFs.

5 Reasons Financial Advisors Are Turning To Bitcoin ETFs

Dogecoin

Ethereum

Solana

Cryptocurrency markets continue to bleed, with the FOMC meeting and poor ETF performances in the U.S. and Hong Kong weighing heavy on the markets. What Happened: Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), Solana (CRYPTO: SOL) and Dogecoin (CRYPTO: DOGE) started May with heavy losses.

Bitcoin Plummets Below $58K, ETH, SOL, DOGE Follow: Over $400M Liquidated In 'Deepest Retrace In The Cycle'

Bitcoin dropped as low as $56,757.93, falling below $57,000 for the first time since Feb. 28, according to data from CoinGecko.

Bitcoin nosedives below $57,000 to two-month low ahead of U.S. Fed decision

Bitcoin's price fall below the $60,000 mark could be the start of further pain to come, according to Standard Chartered Bank.

Standard Chartered says bitcoin price could fall further to $50,000

The spot bitcoin ETFs most recent net outflow streak extended to five days on Tuesday amid continued zero daily flows for BlackRock's IBIT.

Spot bitcoin ETFs saw $344 million net withdrawals in April as flow reversal continued

Bitcoin and Ethereum—and the rest of the market—are awash with red as investors expect more bad news from today's FOMC meeting.

Bitcoin Crashes to $57,000 and Ethereum Slips Below $3,000 Hours Before Fed Meeting

Bitcoin long liquidations spiked above $145 million in the past 24 hours as the price dropped to a multi-month low.

Bitcoin long liquidations spike above $145 million as market heads south

BTC is down nearly 9% in the last 24 hours having dropped below the $60,000 support level late on Tuesday.

Bitcoin Sinks Below $58K, Crypto Market Drops 9% in Run-Up to Fed Decision

Nikita Zhavoronkov, the lead developer of Blockchair, a cryptocurrency block explorer, has expressed his concerns about Bitcoin's dwindling security budget. Zhavoronkov stated that the network needs to experience sustained high fees to offset the security impact of the latest halving. After the issuance of Runes following the halving, fees have returned to normal levels.

Blockchair's Lead Developer Expresses Concerns Over Bitcoin's Security Budget

05/01 update below. This post was originally published on April 30

$300 Billion ‘Perfect Storm' Bitcoin Price Crash Under $60,000 Suddenly Accelerates As Ethereum, XRP And Crypto Brace For Shock Fed Flip

The price of bitcoin has dropped below the $58,000 mark ahead of the FOMC announcement set for later today.

Bitcoin price sinks below $58,000 ahead of FOMC, down 22% from all-time high

Bitcoin fell for a third day on Wednesday, having posted its worst monthly performance in April since late 2022, ahead of an interest rate decision by the Federal Reserve later and key U.S. labour market data.

Bitcoin slides below $58,000, rattled by tougher Fed rate outlook

Macro guru Lyn Alden thinks that Bitcoin's (BTC) ascent to prominence en route to becoming a giant asset class will take more than 10 years. Speaking at an event organized by the What Bitcoin Did podcast, Alden says people tend to think that technologies like Bitcoin will immediately disrupt the incumbent system.

Bitcoin Is a Multi-Decade Story That Will Eat Other Massive Asset Classes, Says Macro Expert Lyn Alden

On April 30, Hong Kong's spot Bitcoin and Ether exchange-traded funds (ETFs) made a successful debut, attracting more than $200 million in total assets.

Hong Kong Spot Bitcoin and Ether ETFs Garner Over $200 Million in Debut

The cryptocurrency market is experiencing a challenging day marked by continuous selling off.

Crypto Market Faces Strong Headwinds as Bitcoin Drops Below $60,000

Animoca Brands, a Hong Kong-based game software company, has announced its partnership with the Opal Foundation to enter the Bitcoin ecosystem, leveraging the Opal Protocol to develop the largest Web3 ecosystem encompassing gaming, Defi, entertainment, education, and culture.

Animoca Brands Joins Forces With Opal Foundation to Build Expansive Web3 Ecosystem on Bitcoin

Bitcoin (CRYPTO: BTC) has been on a downward trajectory recently, leaving many investors wondering what the future holds for the leading cryptocurrency. According to Markus Thielen‘s analysis, the dynamics of Bitcoin trading have evolved significantly, necessitating a keen eye on specific events and developments.

Bitcoin Grinds Lower: Catalysts Traders Will Watch For Their Next Moves

Alliance Resource Partners now holds $25 million in BTC, which it earned with mining rigs first purchased in 2020.

News for Bitcoin Crypto (BTC)