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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.

As Bitcoin's price momentum increases, its offline footprint is also beginning to emerge more clearly with the rise of Bitcoin-only community hubs.

The Rise Of Bitcoin-Only Community And Event Hubs Around The World

Jeff Park, Head of Alpha Strategies at Bitwise, has projected that Bitcoin (CRYPTO: BTC) could skyrocket to $92,000 in the event of a Donald Trump election victory. What Happened: In a post on X on Tuesday, Park used a merger arbitrage-style probability model, tying Bitcoin's price fluctuations to Trump's election odds to calculate that if Trump wins, Bitcoin's price could hit approximately $92,000.

Donald Trump Victory Could Propel Bitcoin To $92,000, Predicts Bitwise's Head Of Strategy

Michael Saylor, the founder of Microstrategy, recently downplayed concerns about bitcoin confiscations, calling them a “myth.” He referenced Executive Order 6102, which compelled U.S. citizens to surrender their gold, to support his stance. However, historical evidence paints a different picture, especially regarding voluntary compliance.

Self-Custody vs. Custodial Bitcoin: A Lesson From FDR ‘Forbidding the Hoarding of Gold'

Dogecoin

Ethereum

Cryptocurrency markets are down on Wednesday, pushing crypto long liquidations to the highest since Oct. 15. Cryptocurrency Price Gains +/- Bitcoin (CRYPTO: BTC) $66,169.96 -2% Ethereum (CRYPTO: ETH) $2,503.20 -4.8% Solana (CRYPTO: SOL) $170.11 +0.99% Dogecoin (CRYPTO: DOGE) $0.1364 -2.7% Shiba Inu (CRYPTO: SHIB) $0.00001738 -4.9% Notable Statistics: IntoTheBlock data shows large transaction volume inching higher by 0.7% and daily active addresses falling by 12.5%.

Bitcoin, Ethereum, Dogecoin Correct: 'A Bounce From This Region Would Be Ideal,' Says Trader

Cryptocurrencies weren't spared as stocks, bonds, gold and oil all declined on Wednesday.

Bitcoin Slides to $66K, Ether Dives 5% in Market-Wide Selloff

Following the backlash from his earlier comments regarding custody providers and self-custody, Michael Saylor turned to X to clarify that he does not oppose self-custody.

Bitcoin Bull Michael Saylor Clarifies Stance on Self-Custody Amid Backlash

According to Arkham Intelligence, the bitcoin transferred by Tesla last week was likely just relocated to newer wallets, but the company still holds control over the funds. Arkham revealed that the assets are now spread across seven separate wallets.

Arkham Reveals Tesla's $765M in Bitcoin Still Intact—Here's What's Happening

Bitcoin (CRYPTO: BTC) could soar to $200,000 by the end of 2025, driven by a combination of rising institutional demand and supply reduction following the latest halving. What Happened: In their October “Bitcoin Investing Guide,” Bernstein analysts highlighted Bitcoin's unique supply structure, particularly its capped total supply of 21 million coins and the halving events that reduce the rate at which new coins are created.

Bitcoin Could Hit $200,000 By 2025, Driven By Institutional Demand and ETFs: Bernstein

Russian officials are reportedly discussing how to use Bitcoin (BTC) to conduct international trade outside the purview of the US dollar system.

BRICS Summit Kicks Off As Lawmakers Discuss Using Bitcoin (BTC) To Evade US Sanctions: Report

The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.

The Daily: Nigeria drops charges against Binance exec, Buterin hits back against Saylor's comments on regulated bitcoin custody and more

Bullish Bernstein analysts now think Bitcoin will hit $200,000 per coin by the end of 2025—and say that's a "conservative" projection.

Bitcoin Hitting $200,000 in 2025 Is a 'Conservative' Bet: Bernstein

Bitcoin on-chain metrics indicate that the digital asset has hit a short-term price top ahead of the U.S. election, according to analysts.

Bitcoin may have hit short-term price top ahead of US Election, analysts say

A government can run a “permanent primary deficit” if it bans or taxes Bitcoin (BTC), according to researchers at the Federal Reserve Bank of Minneapolis. The Fed researchers ask their readers to imagine an economy “in which the government issues stock and pays a flow of non-negative dividends.

US Can Run Fiscal Deficits Permanently If Government Bans or Taxes Bitcoin, According to New Fed Paper

A recent European Central Bank (ECB) working paper criticizing Bitcoin (CRYPTO: BTC) has sparked strong reactions from cryptocurrency academics, accusing the paper of bias and flawed analysis. What Happened: The paper, released on Oct. 12 by ECB authors Ulrich Bindseil and Jürgen Schaaf, painted a negative picture of Bitcoin's future viability, focusing on its volatility, wealth concentration, and lack of productive contributions.

Bitcoin Advocates Fire Back At European Central Bank, Say 'Vested Interest' Motivated Criticism

Retail investor activity in Bitcoin has seen a notable uptick in October, according to analysts from CryptoQuant.

Retail Bitcoin Activity Surges in October Amid Institutional Interest

Analysts at Bernstein have issued a forecast for Bitcoin, predicting that the cryptocurrency will reach $200,000 by the end of 2025.

Bernstein Analysts Predict Bitcoin To Reach $200,000 by End of 2025

Solana

Seasoned trader Peter Brandt believes that Bitcoin (BTC) and two additional crypto assets including Ethereum (ETH) are showing signs of strength. Brandt tells his 744,000 followers on the social media platform X that Bitcoin continues to trade within a consolidation pattern.

Trader Peter Brandt Says Bitcoin and Two Altcoins Flashing Interesting Price Developments – Here's His Outlook

Nasdaq-listed cloud mining services company Bitfufu has announced an agreement to acquire a majority stake in an 80-megawatt (MW) Bitcoin mining facility in Ethiopia. This strategic move marks a significant shift for the company as it transitions from an asset-light strategy to managing a diverse portfolio of Bitcoin mining infrastructure.

Bitfufu Expands to Africa: Acquires 80MW Bitcoin Mining Facility in Ethiopia

Ethereum co-founder Vitalik Buterin has criticized the MicroStrategy co-founder's recent remarks on crypto self-custody.

Vitalik Buterin: Michael Saylor's Bitcoin Self-Custody Comments Are 'Batshit Insane'

The project, which recently raised $7.5 million, says the new decentralized exchange (DEX) will target the market for Bitcoin-based tokens including Ordinals NFTs and Runes fungible tokens – aiming to curb unsavory transactional practices that are possible due to the blockchain's long block times.

Bitcoin Startup Satflow Targets 'Mempool Sniping' in New Token-Trading Rival to Magic Eden

Renowned investor Paul Tudor Jones said he was bullish on bitcoin, gold and commodities amid the risk as “all roads lead to inflation.”

US elections could trigger a ‘Minsky moment' bond market crash as Paul Tudor Jones bets on bitcoin: analysts

AI clusters and bitcoin mining operations have vastly different needs. Core Scientific's chief development officer gets down to the nitty gritty.

Bitcoin Miners Are Pivoting to AI to Survive. Core Scientific Entered the Race Years Ago

U.S. spot bitcoin exchange-traded funds (ETFs) hit a bump in the road on Tuesday, recording $79.09 million in net outflows. Meanwhile, ether ETFs turned things around, bringing in $11.94 million in net gains. Tuesday's Crypto ETF Action The 12 spot bitcoin ETFs struggled, shedding $79.09 million overall. However, three ETFs saw a bit of sunshine.

Ether ETFs Snag Gains While Bitcoin Funds Realize $79M in Outflows

The market needs time to digest higher bond yields, "before Bitcoin can resume its upward movement," 10x Research wrote in a note.

Bitcoin Price Stabilizes as Analysts Flag an Accumulation Period

Bitcoin spot ETFs recorded a net outflow of $79.09 million on Tuesday, marking the first outflow after a consistent inflow streak over the past seven days. What Happened: BlackRock‘s (NASDAQ:IBIT) ETF, showed a gain of $42.9 million on Oct. 22, while ARK Invest‘s (CBOE: ARKB) ETF saw a substantial outflow of $134.7 million.

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