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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.

While speculators will likely position themselves in advance of the halving on April 20, long- term investors should pay minimal attention to the halving itself, and rather focus on the demand side of the market, says Torbjørn Bull Jenssen, CEO of K33.

How the Halving Will Impact the Bitcoin Market

U.S. spot bitcoin ETFs have topped $200 billion in cumulative trading volume just three months after launching, led by major providers like BlackRock.

$200 Billion: US Bitcoin Spot ETFs Top $200 Billion in Trading Volume

Bitcoin (CRYPTO: BTC) moved lower, with the cryptocurrency prices trading below the key $70,000 level on Wednesday. Ethereum (CRYPTO: ETH) also recorded losses, trading belowthe key $3,600 mark this morning.

Bitcoin Falls Below $70,000 Following Inflation Data; Gala Becomes Top Loser

Ethereum

At the time of writing, the Bitcoin price has slipped to below $68,000 and the Ethereum price is threatening to go lower than $3,400.

Bitcoin and Ethereum Dive as U.S. Inflation Remains at 3.5%

Bitcoin's price movements on April 10, 2024, showcased a day of significant volatility, with the cryptocurrency's value swinging between $68,207 and $70,917. Oscillators and moving averages paint a complex picture of neutrality and cautious selling signals, amidst a backdrop of a $1.35 trillion market capitalization.

Bitcoin Technical Analysis: BTC Remains Range Bound Ahead of US Inflation Report

Michael Sonnenshein said that early outflows from GBTC were "anticipated," and linked to the bankruptcy settlements of crypto firms such as FTX.

Grayscale CEO: Bitcoin ETF Flows Reaching 'Equilibrium' as GBTC Outflows Continue

Bitcoin BTC has stormed into 2024, powered by a fleet of new bitcoin spot exchange-traded funds (ETFs) and a huge expected Federal Reserve flip.

‘Raging Firesale'—Major Bitcoin Miner And Legendary Crypto Trader Issue Serious Halving Price Crash Warnings

The latest price moves in bitcoin (BTC) and crypto markets in context for April 10, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Meme Coin Indexes Are Here

Famous for authoring "Rich Dad Poor Dad" in the 1990s, Robert Kiyosaki has recently become a strong advocate for Bitcoin. He is a fan of the deflationary characteristics of the token, as well as other assets such as gold and silver.

Robert Kiyosaki Says Federal Reserve No Longer Promising Inflation At 2% — 'Only Save Real Gold, Silver, and Bitcoin'

Contrary to popular opinion, BitMEX founder Arthur Hayes thinks the upcoming Bitcoin (BTC) will temporarily dampen the crypto market's momentum. In a new analysis, Hayes argues that the macro setup is actually favorable for traders interested in shorting the crypto market.

Arthur Hayes Issues Warning, Says Raging Bitcoin (BTC) and Crypto Firesale Could be Coming – Here's Why

Bitcoin miners have been running down inventory in a rising market, moving away from the accumulation strategy seen ahead of prior halving in May 2020.

Crypto Miners Run Down Bitcoin Inventory to 3-Year Low in a Strategic Pre-Halving Move

Bitcoin has fallen below the $69,000 level on Wednesday, ahead of the release of U.S. Consumer Price Index data.

Bitcoin price drops below $69,000 ahead of US inflation reading

Cardano

Dogecoin

One analyst said profit taking by long-term holders spiked meaningfully into the $73,000 level and has cooled down in recent weeks, supporting a bullish bias in the future.

Bitcoin Falls Below $69K Ahead of U.S. CPI; Cardano, Dogecoin Lead Majors Losses

Sonnenshein said that some of the selling connected to settlements of bankrupt crypto companies like FTX are "largely behind us."

Grayscale CEO Says Bitcoin ETF Outflows Are Reaching Equilibrium: Reuters

Hong Kong regulators are likely to approve the first set of applications for spot bitcoin exchange-traded funds next week, making it possible that the products could be ready for an April launch, Reuters reported on Wednesday, citing two people familiar with the matter.

Hong Kong Likely to Approve Spot Bitcoin ETFs Next Week: Reuters

Hong Kong will reportedly approve Asia's first spot bitcoin ETFs this month, cementing its Bitcoin-friendly stance and status as a rising finance hub.

Hong Kong to Approve Asia's First Bitcoin Spot ETFs in April

While 40% of respondents to the German bank's survey said bitcoin will thrive in the coming years, 38% said they expect the cryptocurrency to disappear.

Bitcoin's Bullish Quarter Eases Retail Skepticism: Deutsche Bank

Bitcoin and Ethereum have dipped as investors watch to see how new U.S. inflation data will play out in the market.

Bitcoin and Ethereum Dip Hours Ahead of New U.S. Inflation Data

The milestone comes amid continued net outflows for the spot Bitcoin ETFs on Tuesday as bitcoin's price dropped around 5%.

Spot bitcoin ETF cumulative trading volume crosses $200 billion

Outflows from the Grayscale Bitcoin Trust may be reaching an equilibrium after months of investor selling, Michael Sonnenshein, CEO of crypto asset manager Grayscale Investments, told Reuters on the latest episode of Inside ETFs.

Grayscale CEO sees bitcoin ETF outflows reaching equilibrium

Spot bitcoin exchange-traded funds could be launched in Hong Kong this month with the first approvals likely to be announced next week, two people familiar with the matter said.

Hong Kong set to approve its first spot bitcoin ETFs in April, sources say

Fred Thiel, CEO of Marathon Digital Holdings Inc., suggested that recent spot Bitcoin ETF approvals have accelerated the market's appreciation, typically expected post-Bitcoin halving, by attracting significant capital into the market.

Marathon CEO Credits Bitcoin ETF on Pre-Halving Price Surge

Seasoned trader Peter Brandt says Bitcoin (BTC) is flashing a common bull market pattern that typically precedes a burst to the upside. The trader, who gained legendary status after calling the 2017 Bitcoin collapse, says BTC may soon rally to around $80,000 as it threatens to take out its short-term diagonal resistance.

Trader Peter Brandt Predicts Breakout Rally for BTC Amid ‘Basic' Bull Market Pattern – But There's a Catch

Bitcoin and its adoption by the government of El Salvador have become a negative factor in the country's negotiations with the IMF. According to reports, the institution demands changes to El Salvador's Bitcoin law to receive a $1.4 billion credit line for expediting public debt payments and other obligations.

Bitcoin Reportedly Hindering El Salvador's Credit Opportunities With the IMF

Babylon will also help dual-stake Nomic's security by using staked Bitcoin and staked NOM, Nomic's native token.

News for Bitcoin Crypto (BTC)