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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 mining company Marathon Digital Holdings (NASDAQ:MARA) is making waves with a novel environmental initiative – launch of a 2-megawatt pilot project in Finland, that leverages the heat generated by Bitcoin (CRYPTO: BTC) mining to warm a community of 11,000 residents. What Happened: The project functions by heating water at a central location and distributing it through an underground network of pipes, providing warmth to homes throughout the Finnish community.

Bitcoin Miner Heats Finnish Town Using Waste Heat From Mining BTC

Hut 8 aims to leverage its ability to develop and operate complex energy infrastructure to address unmet demand and emerge as a leader in the artificial intelligence infrastructure market.

Bitcoin miner Hut 8 gets $150 million investment from Coatue to advance AI infrastructure market

A trader with a track record for accurate Bitcoin (BTC) calls says that the crypto king's bull market trend line is breaking, opening the door for a correction.

Trader That Called May 2021 Collapse Warns Bitcoin May Witness up to 20% Correction Following Support Break

Many prominent American policymakers, including the President and the Vice President, have become friends with a donor to Rep. Brad Sherman's campaign who has worked with the Chinese state to influence American elections.

A Large Donor to Anti-Bitcoin Rep. Brad Sherman Coordinates With China's "Magic Weapon" to Influence US Politicians, Including President Biden and Vice President Harris

AI hosting opportunities have driven a $4 billion increase in the aggregate market cap of bitcoin miners, according to a JP Morgan report.

Investor interest surges for bitcoin miners following Core Scientific AI hosting deal: JP Morgan

Lightning ecosystem companies are joining forces to tackle new adoption challenges.

Bitcoin Lightning Alliance To Accelerate Adoption Using New Asset Protocol

Defunct cryptocurrency exchange Mt. Gox has announced that it will start distributing assets stolen from clients during a 2014 hack starting in the first week of July.

Mt. Gox To Start Repaying Bitcoin In July: $9B In Sell Pressure Coming?

Riot is Bitfarms' largest shareholder, owning 14.9% of the firm.

Bitcoin Miner Riot Platforms Ditches Bitfarms Takeover Bid, Seeks to Overhaul Board

A closer look at the multiple factors influencing Bitcoin's current market volatility.

What's Causing the Bitcoin Price Decline?

Bitcoin's (CRYPTO: BTC) 5% drop on Monday prompted traders to predict $60,000 as a key support level for the crypto king. What Happened: Jason Pizzino highlighted the drop as another weekly correction, the fifth in a row.

Is Bitcoin's New 5% Tumble Still A 'Bull Market Correction'?

In stark contrast, derivatives traders who shorted assets saw minor losses, as short liquidations now stand at just $25 million.

Nearly $100 Million Longs Liquidated as Bitcoin Dips Below $61,000

The Bitcoin ETF outflows were “a reaction to the pessimism amongst investors for interest rate cuts by the FED this year,” a CoinShares analyst said.

CoinShares says ‘true correction' underway after $544 million outflow from spot Bitcoin ETFs last week

Bitcoin tumbles back to $60,000 to start the week

Investors aren't rushing to bet against Bitcoin. Short Bitcoin funds, which profit when the price of BTC falls, saw modest outflows last week.

Bitcoin Funds Lost $630 Million, But BTC Bears Are Still On the Sidelines

Bitcoin rights have become law in a second state as Louisiana passes a landmark pro-bitcoin bill to protect access to bitcoin and curb Central Bank Digital Currencies. Governor Jeff Landry signed House Bill 488 into law after it received bi-partisan approval from both the House and Senate.

Louisiana Passes Bill To Defend Bitcoin Rights And Ban CBDCs

The latest price moves in bitcoin (BTC) and crypto markets in context for June 24, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Mt. Gox Repayments Worsen BTC Woes

A closely followed crypto analyst thinks it's almost time for altcoins to witness the steepest leg of the bull market. Pseudonymous analyst TechDev tells his 460,100 followers on the social media platform X that the Bitcoin dominance (BTC.D) chart is flashing a massive bearish reversal signal. The BTC.

‘Welcome to the Bottom of Altcoins' – Analyst Says Bitcoin Dominance Ready for Largest Plummet in Four Years

Bitcoin (CRYPTO: BTC) has plummeted below $61,000 in early Monday morning trading, continuing its downtrend from last week. What Happened: Bitcoin is down 5% over the past 24 hours, barely hanging on to $61,000 at the time of writing.

Bitcoin Plummets To $61K, $260M In Longs Liquidated

Bitcoin's price action on June 24, 2024, indicates a clear bearish trend. Hovering around $61,171, bitcoin has fluctuated between $60,580 and $64,384 in the past 24 hours. BTC's market cap is $1.21 trillion, with a trading volume of $19.12 billion, reflecting significant market activity despite the decline.

Bitcoin Technical Analysis: Mt Gox Payment News Rattles Markets

Market participants were spooked as they feared that the proceeds would lead to an imminent sell-off across BTC and BCH.

Bitcoin Dives to $61,000 as Mt. Gox Says BTC Repayments Begin Next Week

Iris Energy is best positioned to take advantage of the HPC/AI opportunity, the report said.

Bitcoin Mining Sector Is Attracting Growing Investor Interest Following Core Scientific Deal: JPMorgan

Defunct Bitcoin exchange Mt. Gox announced it will finally begin distributing assets stolen in its 2014 hack to victims starting in July 2024, after years of delays.

Mt. Gox to Start Bitcoin Repayments in July

On Monday, June 24, 2024, the Mt Gox bankruptcy trustee declared that reimbursements are slated to commence at the start of July. The trustee explained that disbursements will be made in bitcoin and bitcoin cash and sent to designated exchanges.

Mt Gox to Start Distributing $9 Billion in Bitcoin to Creditors in July After Decade-Long Wait

The biggest Bitcoin (BTC) traders have recently become more risk-averse, according to the CEO of blockchain analytics firm CryptoQuant.

Bitcoin Whale Traders Enter ‘Risk-Off' Mode, According to CryptoQuant CEO

Bitcoin has fallen below 3% in the past 24 hours and could fall low enough to test the $60,000 support level.

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