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.

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas.

BTC Market Now 'Extremely Bearish,' Says QCP: Asia Morning Briefing

Block's bitcoin revenue accounted for about $1.97 billion of its total revenue, down from $2.4 billion during the same quarter last year.

Jack Dorsey's Block sees nearly $2 billion in bitcoin revenue in Q3, nearly 1/3 of its total revenues

Tenerife's Technological and Renewable Energy Institute bought 97 Bitcoin in 2012—and now wants to sell them after a 1,000x price increase.

Spanish Council Aims to Sell Bitcoin After 1,000x Jump, Could Fuel Quantum Research

The cryptocurrency sank to $100K for the second time in less than a week as fears of an impending artificial intelligence (AI) stock crash gripped Wall Street. Bitcoin and Stock Markets Tumble as AI Fears Spark Selloff The romance between AI and Wall Street is quickly turning sour and bitcoin is paying the price.

Bitcoin Sinks Again and Stocks Follow, as Fears of an AI Bubble Return

Ethereum

Bitcoin and ether ETFs extended their outflow streaks, losing a combined $256 million, while solana ETFs continued to quietly attract investors, adding $10 million in fresh inflows.

Bitcoin and Ether ETFs Stay Red Despite Inflows

The firm's SVP of Finance and Strategy Shiv Verma said that the company's management is "constantly" discussing the possibility of a Bitcoin treasury.

Will Robinhood Start a Bitcoin Treasury? Firm Says It's Weighing 'Pros and Cons'

Bitcoin Magazine Bitcoin Price Dances with $100,000 as Crypto Industry Waits to See What's Next Analysts say Bitcoin's next move hinges on whether new buyers can absorb ongoing whale selling, with volatility likely to persist as the market seeks a post-distribution equilibrium. Bitcoin Price Dances with $100,000 as Crypto Industry Waits to See What's Next Micah Zimmerman.

Bitcoin Price Dances with $100,000 as Crypto Industry Waits to See What's Next

Dogecoin

Bitcoin is back below $102,000 as the government shutdown continues to weigh on risk appetite. Cryptocurrency Ticker Price Bitcoin (CRYPTO: BTC) $101,313.79 Ethereum (CRYPTO: ETH) $3,313.25 Solana (CRYPTO: SOL) $156.06 XRP (CRYPTO: XRP) $2.22 Dogecoin (CRYPTO: DOGE) $0.1597 Shiba Inu (CRYPTO: SHIB) $0.058970 Notable Statistics: Coinglass data shows 198,110 traders were liquidated in the past 24 hours for $572.82 million.

Bitcoin, Ethereum, XRP, Dogecoin Retrace Bounce As Government Shutdown Extends

Ark Invest CEO Cathie Wood said Bitcoin probably won't reach her previous target of $1.5 million by 2030, because of rapid stablecoin adoption.

Ark Invest's Cathie Wood Slashes Bitcoin Price Target Over Growing Stablecoin Mania

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

The Daily: Google to integrate Polymarket and Kalshi data in search results, JPMorgan sees bitcoin reaching $170,000, and more

Bitcoin Magazine Cathie Wood Lowers Bitcoin 2030 Target To $1.2 Million as Stablecoins Gain Popularity ARK Invest CEO Cathie Wood lowered her 2030 Bitcoin forecast from $1.5 million to $1.2 million. Cathie Wood Lowers Bitcoin 2030 Target To $1.2 Million as Stablecoins Gain Popularity Micah Zimmerman.

Cathie Wood Lowers Bitcoin 2030 Target To $1.2 Million as Stablecoins Gain Popularity

Ark Invest has adjusted its long-term bullish outlook on Bitcoin (CRYPTO: BTC) from $1.5 million by 2030 down to $1.2 million, citing the rapid rise of stablecoins as a factor for its downward revision. What Happened: In a CNBC Squawk Box interview on Wednesday, CEO Cathie Wood pointed out that with stablecoins increasingly fulfill the transactional role that ARK once expected Bitcoin to play.

Cathie Wood's New Bitcoin Target: 'Only' $1.2 Million By 2030—And Stablecoins Are To 'Blame'

In the first week of November, bitcoin's price dipped 5.68%, adding to October's 3.69% slide. The chatter this year has centered on long-resting coins suddenly waking up—something many believe has kept the market moving sideways all year. Onchain analyst James Check reports that roughly 4.

Bitcoin Holders Break Silence: 4.6 Million Dormant Coins Spring Back to Life in 2025

Bitcoin Magazine Samourai Wallet CEO Sentenced to Five Years for Operating Unlicensed Bitcoin Mixing Service Keonne Rodriguez, CEO of Samourai Wallet, was sentenced Thursday to five years in prison for operating a cryptocurrency mixing service that prosecutors say laundered $237 million in illicit funds. Samourai Wallet CEO Sentenced to Five Years for Operating Unlicensed Bitcoin Mixing Service Micah Zimmerman.

Samourai Wallet CEO Sentenced to Five Years for Operating Unlicensed Bitcoin Mixing Service

A crypto whale on Hyperliquid is about $3.1 million in profit thanks to two heavily leveraged short bets against Bitcoin and XRP.

Crypto Whale Bets Against Bitcoin and XRP With $140 Million in Shorts

Samourai Wallet developer Keonne Rodriguez was sentenced Thursday to five years in prison for his role in creating a Bitcoin mixer app.

Developer of Bitcoin App Samourai Sentenced to 5 Years in Prison

Crypto analyst Trader Mayne remains bullish on Bitcoin (CRYPTO: BTC), arguing that the recent pullback is part of a larger consolidation before the final leg higher in this cycle. What Happened: Mayne's thesis builds on several core factors: Four-Year Cycle Theory: Following Bob Lucas' framework, Mayne expects the next cycle top between late 2025 and early 2026, aligning with prior four-year cycle peaks.

Bitcoin Likely Has 'One More Leg Higher' Before 2026 Bear Market, Trader Says

Robinhood's crypto revenue rose 300% to $268 million in the third quarter, helping drive higher overall revenues of $1.27 billion.

Robinhood cautious on adopting corporate bitcoin treasury: ‘Is it the best use of our capital?'

Bitcoin BTC$101,068.19 has room to run — and fast — according to a new forecast from JPMorgan analysts who see the cryptocurrency reaching as high as $170,000 within the next six to 12 months.

Bitcoin's Fair Value Is $170K, JPMorgan Argues in Gold-Based Model

A pair of crypto influencers wagered $100K each on whether Bitcoin would rise or fall. Here's how it all went down.

How This Crypto Influencer Won a $200K Bet by Predicting the Bitcoin Crash

Call it some air slipping out what might be an AI bubble, or the Fed engineering a tightening in liquidity into a growing economic slowdown, or some combination of the two, but markets are pulling back again on Thursday.

Crypto Shares Slammed, BTC Heads Back to $100K Thursday Alongside Stock Market Selloff

Strategy Inc. (NASDAQ:MSTR) faces rising costs to maintain its massive Bitcoin (CRYPTO: BTC) treasury, with annual obligations now topping $689 million, according to a new report. Company's Bitcoin Treasury Comes With Heavy Burden Strategy Inc., formerly MicroStrategy, holds about $66 billion in bitcoin and plans to never sell its holdings.

Michael Saylor's Bitcoin Plan Has A Cost — Strategy Must Pay $689M Just To HODL

Bitcoin (CRYPTO: BTC) could rise to $170,000 within 6 to 12 months, according to JPMorgan Chase & Co. (NYSE:JPM) analysts. Analysts Say Deleveraging Phase Is Over In a note released Wednesday, JPMorgan said the crypto market has corrected about 20% from recent highs, with the Oct. 10 liquidation resetting leverage: "The deleveraging in perpetual futures now appears largely over," the report notes.

JPMorgan Says Bitcoin Has '67% Upside,' Sees $170,000 Within Next 6 Months

Bitcoin Magazine JPMorgan: Bitcoin Looks Cheap Compared to Gold, Bitcoin Price to $170,000 JPMorgan strategists say Bitcoin looks undervalued versus gold after a 20% drop in October caused by futures deleveraging and a $128 million DeFi hack. JPMorgan: Bitcoin Looks Cheap Compared to Gold, Bitcoin Price to $170,000 Micah Zimmerman.

JPMorgan: Bitcoin Looks Cheap Compared to Gold, Bitcoin Price to $170,000

Her comments come as institutions recalibrate BTC forecasts, with Galaxy turning cautious and JPMorgan projecting renewed upside.

News for Bitcoin Crypto (BTC)