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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.

Navigating New Frontiers: How the Bitcoin Volatility Premium AMC Is Redefining Investment Strategies

Mysterious 2010 Bitcoin Whale Launches Bitcoin-Only Market-Making Certificate

Bitcoin (CRYPTO: BTC) moved lower, with the cryptocurrency prices trading below the key $63,000 level on Monday. Ethereum (CRYPTO: ETH) also recorded losses, trading below the key $3,200 mark this morning.

Bitcoin Falls Below $63,000; Conflux, Maker Among Top Losers

Ethereum

The latest price moves in bitcoin (BTC) and crypto markets in context for April 29, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Bitcoin, Ether Sink Amid U.S. Stagflation Fears

Despite a brief pop in revenue for miners post-halving amid the Runes frenzy, hash price has now dropped to less than $50 per PH/s per day.

Bitcoin ‘hash price' slides to all-time low following fourth halving event

As of April 29, 2024, bitcoin remains under considerable bearish pressure according to multiple indicators across different time frames. Currently trading at $62,279, bitcoin has shown a 24-hour range between $61,994 and $63,929.

Bitcoin Technical Analysis: Persistent Bearish Trends Hinder BTC's Recovery

The Japanese yen swung wildly on Monday, recovering 500 pips from over three-decade lows on suspected BOJ intervention.

Bitcoin Trades At Slight Premium in Yen Terms Amid Suspected BOJ Intervention

Australia moves to approve its first spot bitcoin ETFs this year, joining the US and Hong Kong in offering regulated Bitcoin funds. Approval could unlock billions in institutional investment.

First Bitcoin ETF to launch in Australia in 2024: Bloomberg

The analysts also argued that the SEC's denial of spot Ethereum ETFs could be bullish for the Ethereum ecosystem.

Bernstein says slowing Bitcoin ETF flows are a ‘short-term pause,' maintains $150,000 price target

The price of bitcoin has dropped below the $63,000 mark amid concerns that the U.S. economy is slipping into stagnation.

Bitcoin price falls below $63,000 amid stagflation fears in the US economy

The Australian Securities Exchange (ASX) is reportedly set to approve the first spot-Bitcoin (CRYPTO: BTC) exchange-traded fund (ETF) in the country before the year ends. What Happened: The ASX, which oversees the majority of Australia's equity market, is expected to give the green light to the first spot-Bitcoin ETFs before the end of 2024, as per a reported Bloomberg on Monday citing individuals familiar with the matter.

ASX Reportedly Set To Green-Light Australia's First Bitcoin ETF Before 2024 Ends: Report

The bitcoin miner earned $218,544 in total rewards for mining block 841,286 using CKpool in a solo mining configuration.

Lone bitcoin miner beats the odds to win full $219,000 block reward

An analyst who rode the 2023 crypto breakout believes that Bitcoin's bull market will remain “incredibly strong” even if BTC plummets to $52,000.

Top Analyst Says Bitcoin Looks Incredibly Strong Even if BTC Witnesses Correction to $52,000 – Here's Why

Investment platforms will take some time to establish the necessary compliance framework to sell bitcoin ETF products, the report said.

Bitcoin ETF Slowdown Is a Short-Term Pause Not the Beginning of a Negative Trend: Bernstein

Brandt's latest view is based on a statistics concept called "exponential decay."

Chart Veteran Who Predicted Bitcoin's 2018 Collapse Says The Bull Market May Be Over

The Australian Securities Exchange (ASX), which accounts for 90% of Australia's equity market, is expected to approve the first spot-Bitcoin {BTC} exchange traded funds (ETFs) before the end of 2024, Bloomberg has reported, citing people familiar with the matter.

Australian Securities Exchange Could Approve Spot-Bitcoin ETFs Before 2024-End: Bloomberg

After months of continuous inflows, the surge of cash pouring into Bitcoin exchange-traded funds (ETFs) has come to a halt.

Investor Pulled $218M from Bitcoin ETFs as US Economic Growth Slows

According to veteran pro trader Peter Brandt, bitcoin may have peaked when it achieved a new all-time high of $73,835. However, there is a possibility that it could now decline to the mid-$30s or even lower, Brandt said. Interestingly, Brandt suggests that such a decline could be the “most bullish thing” from a long-term perspective.

Veteran Trader Peter Brandt Suggests BTC May Have Topped, Predicts a Decline to Mid-$30K

Australia's ASX stock exchange is expected to list its first approved batch of spot bitcoin ETFs on the main board by 2024.

Australia's largest stock exchange could list approved spot bitcoin ETFs by end of 2024: Bloomberg

The crypto market is balancing the threat of stagflation against a liquidity injection from the Treasury General Account (TGA), and the launch of Hong Kong's bitcoin ETFs.

Bitcoin, Ether Nurse Losses as U.S. Stagflation Fears Grip Market

Johann Steynberg, the mastermind behind a South African bitcoin Ponzi scheme, recently died of a heart attack while under house arrest on a farm in Brazil. According to his Brazilian wife, Steynberg left no will and had no assets that could be inventoried.

South African BTC Ponzi Scheme Mastermind Succumbs to Heart Attack While Detained in Brazil

Chris Pacia, the former lead developer of the now-defunct decentralized marketplace Openbazaar, has criticized the process that led to the proposal of Bitcoin's lightning network (LN) as a scaling solution. Pacia stated that technical experts lied to the mainstream audience in the blocksize war's framework, knowing that LN would work “like dog sh*t.

Former Openbazaar Dev Chris Pacia Blasts Lightning Network: Experts Knew It Would Work ‘Like Dog Sh*t'

A technical analyst has highlighted that bitcoin is approaching “the point where historically the most aggressive part of the bull cycle begins,” forecasting a potential rise to $300,000 for the cryptocurrency.

Analyst Eyes $300K Bitcoin Price as BTC Approaches ‘Most Aggressive Part of the Bull Cycle'

A closely followed crypto strategist thinks that Bitcoin (BTC) is presenting a golden opportunity to long-term holders. Pseudonymous analyst Inmortal tells his 212,900 followers on the social media platform X that he sees Bitcoin rallying to a fresh all-time high in the coming weeks.

Crypto Trader Says Bitcoin Presenting ‘Generational' Opportunity, Unveils Bull Market Price Target for BTC

The Depository Trust and Clearing Corporation (DTCC) has declared that exchange-traded funds (ETFs) linked to Bitcoin (BTC) or cryptocurrencies have no collateral value as investments. In an announcement, the DTCC, which provides clearing and settlement services to the financial markets in the US, says digital asset-linked ETFs will be subject to a 100% “haircut.

Depository Trust and Clearing Corporation Says Bitcoin and Crypto ETFs Don't Qualify As Collateral for Financial Assets

A Bitcoin whale has stacked over $282 million in BTC since late March as the flagship digital asset struggles to find a bottom after hitting all-time highs. First spotted by blockchain tracking firm Lookonchain, an address beginning with “12QVsfA” bought 4,380 BTC worth $282.38 at an average price of $64,471.

News for Bitcoin Crypto (BTC)