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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's price stands at $57,206, with an intraday 24-hour range between $54,296 and $58,441. The market capitalization is $1.12 trillion, and the 24-hour trade volume reaches $33.69 billion. Bitcoin Bitcoin's 1-hour chart shows a recent downtrend from $58,441 to $54,296, followed by a sharp recovery to approximately $57,500.

Bitcoin Technical Analysis: BTC Prices Rebound Following $53,550 Low

The latest price moves in bitcoin (BTC) and crypto markets in context for July 8, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: BTC Rebounds to $57K

Bitstamp says that, while it can take up to 60 days to make the upcoming bitcoin payments to Mt. Gox creditors, it will aim to do so swiftly.

Bitstamp will aim to distribute Mt. Gox bitcoin ‘as soon as possible' once it arrives

Markets have priced in Mt. Gox's ongoing repayments and U.S. policies could now start influencing the market, one trading desk said.

Bitcoin Climbs Over $57K, With Some Saying Mt. Gox Sales Already ‘Priced In'

According to onchain metrics, the German government has transferred an additional 1,205 bitcoin valued at $68.9 million. The funds were distributed to multiple addresses, including Coinbase and Bitstamp. Germany Divests Another $68 Million in Bitcoin As of 7 a.m.

German Government Moves 1,205 Bitcoin Amid Price Fluctuations

An increase in put options indicates trader demand for downside protection following bitcoin's recent price correction, analysts said.

Bitcoin options traders increase their downside bets as near-term implied volatility spikes: analysts

The recent increase in power fees enacted by the National Power Administration of Paraguay (ANDE) has bitcoin mining companies seeking alternatives in neighboring countries, such as Argentina and Brazil.

Rising Power Fees Begin to Drive Bitcoin Mining Companies From Paraguay to Argentina

The German government moved 250 BTC each to the two crypto exchanges, with a further 500 BTC sent to an unidentified address.

Germany Moves Another $28 Million in Bitcoin to Bitstamp, Coinbase

Japanese company Metaplanet bought another ¥400 million ($2.5M) in Bitcoin, continuing its strategy of accumulating Bitcoin as a treasury reserve asset to mimic MicroStrategy.

'Asia's MicroStrategy' Metaplanet Buys Another ¥400 Million Worth of Bitcoin

A widely followed crypto analyst says that investors likely can't expect Bitcoin (BTC) to spark a rally for at least a few more months.

Here's How Long the Bitcoin Correction Could Last, According to Analyst Benjamin Cowen

U.S.-listed mining companies produced a greater share of bitcoin in June than May as they brought on new capacity while the network hashrate dropped, the report said.

Bitcoin Mining Profitability Rose in June as Market Adjusted for the Halving: Jefferies

The German government continues to transfer bitcoins to centralized exchanges with the presumed intent to sell.

German government transfers another 1,000 bitcoins in ongoing selling spree

A widely followed economist believes several catalysts on the horizon could give Bitcoin (BTC) a massive shot in the arm. Economist Alex Krüger tells his 176,300 followers on the social media platform X that Bitcoin broke below its $60,000 psychological support as fears surrounding sell pressure from the German government and Mt.

Economist Alex Krüger Names Five Catalysts That Could Reignite Bitcoin (BTC) Bullish Momentum

Publicly traded Metaplanet Inc. has bought an additional 42 Bitcoin, valued at $2.4 million, as Japan's economy faces significant headwinds.

Japan's Metaplanet Scoops More Bitcoin Amid Sluggish Economic Growth

Data from Farside Investors revealed that US spot Bitcoin ETFs experienced their highest net inflows in a month, with $143.1 million pouring in on July 6.

Bitcoin Spot ETFs Saw $143M in Inflows, Highest in a Month

Japanese investment firm Metaplanet Inc. doubled down on its Bitcoin (CRYPTO: BTC) investment even as the digital currency continues to bleed. What Happened: The Tokyo Stock Exchange-listed company grabbed an additional 42.47 Bitcoins, according to a disclosure during Asian hours Monday.

Adopting A MicroStrategy-Like Strategy, Firm Listed On Tokyo Stock Exchange Buys $2.5M Worth of Bitcoin Amid Crypto Meltdown

Bitcoin (BTC) experienced a rocky start to the second half of 2024, plummeting over 11.7% so far in the month of July.

Bitcoin's Bullish Indicators Emerge Despite Price Reaching Five-Month Low

Germany has been running down its coin stash since mid-June.

Germany Sill Holds $2.2B Worth of Bitcoin, Blockchain Data Show

CoinDesk 20 Down 7%, Bitcoin Sinks by 5%, as Market Tumbles as Asia Trading Week Begins

CoinDesk 20 Down 7%, Bitcoin Sinks by 5% as Asia Trading Week Begins

Welcome To Latam Insights Encore, a deep view of Latin America's most relevant economic and cryptocurrency-based news last week.

Latam Insights Encore: Paraguay Anti-Bitcoin Mining Stance Is a Net Negative for the Nation's Development

Bitcoin dropped by 6% to $54,600 during weekend trading, despite recovering some of the losses incurred at the end of last week.

Bitcoin Dips Below $55,000 as 'Significant' Selling Expected in Months Ahead

Economist and staunch Bitcoin (CRYPTO: BTC) critic Peter Schiff recently expressed concerns over ETF investors being set up to bear the brunt of losses. What Happened: On Sunday, Schiff took to X to share his observations on the current trading patterns and ETF inflows of Bitcoin.

Peter Schiff Says 'Smart Money Is Selling' And Dumb Money Is Buying It Through ETFs: 'They Set Up Bitcoin ETF Investors To Be The Bag Holders'

Just like oscillators, moving averages (MAs) are indispensable tools in technical analysis, providing traders with insights into price trends and potential market reversals. In this learning and insights article, we'll delve into the history, types, and application of moving averages leveraged in bitcoin trading, highlighting their significance and utility in the crypto market.

Unveiling Moving Averages: Essential Tools for Bitcoin Trading

Dogecoin

Ethereum

Leading cryptocurrencies sank further Sunday, erasing gains made from the relief rally in the days prior. Cryptocurrency Gains +/- Price (Recorded 8:30 p.m.

Bitcoin, Ethereum, Dogecoin Sink Again: King Crypto On Cusp Of Downside Breakout If $56K Is Lost, Says Analyst

Billionaire Jack Dorsey foresees a future where bitcoin could supplant the U.S. dollar as the dominant global currency. He envisions a scenario where bitcoin's value could soar to $1 million by 2030. Highlighting the cryptocurrency's decentralized nature, Dorsey underscores its potential to democratize financial systems and reduce reliance on traditional banking institutions.

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