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 ETFs attracted $170.09 million at the start of the week, with seven funds recording gains and none reporting an outflow. Ether products lost $11.42 million, while XRP edged higher and HYPE resumed its decline. Blackrock Drives Nearly Two-Thirds of $170M Bitcoin Inflow Fresh August allocations arrived quickly.

Bitcoin ETFs Add $170M as Blackrock Leads Gains for 7 Funds

The Brazil-based crypto asset manager will liquidate its U.S. spot Bitcoin ETF later this month, ending a fund that entered the market in 2024.

Hashdex to Shut Down Bitcoin ETF After Struggling to Gain Assets

Chainlink

LayerZero 

The move pushes the total value migrating from LayerZero to Chainlink near $15 billion, with WBTC representing the largest shift yet.

BitGo moves $7.4 billion Wrapped Bitcoins to Chainlink CCIP in latest LayerZero exodus

Bitcoin worth close to $32 million moved for the first time in 12 years yesterday.

Nearly $32 Million in ‘Dormant' Bitcoin Moves After Coldcard Hack Reaches Estimated $130M

Retail investors and large whales are buying as bitcoin trades near its 200-week moving average.

Bitcoin's $63,000 zone emerges as key battleground for buyers: Glassnode

Strategy Inc. (NASDAQ:MSTR) CEO Phong Le says the company expects to outperform Bitcoin (CRYPTO: BTC) during the next bull market, even as it is selling some holdings to manage its balance sheet. "We Sell Bitcoin When We Need To" Speaking to CNBC on Aug 4, Le described the current crypto downturn as a bear market driven by macroeconomic uncertainty, including elevated interest rates, geopolitical tensions, AI-related capital flows and regulatory uncertainty.

Strategy CEO Phong Le: 'We're the JPMorgan of Crypto,' Expects to Outperform Bitcoin

Boltz, a company that lets people move bitcoin between the main blockchain, the Lightning Network, and the Liquid sidechain, shut down all of its swap services on Aug. 3 after months of automated attacks it said were increasingly powered by artificial intelligence (AI).

AI Attack Freezes Boltz, Rattles Lightning Network Users

Hypserscale offloaded more Bitcoin than it bought last week in a bid to generate cash flow.

Hyperscale Trims Bitcoin Holdings, Still Sits on $61M Stack

Bitcoin (CRYPTO: BTC) still trades around $63,000, despite a $100 million hack, Michael Saylor selling, and over 20,000 BTC hitting exchanges. Analyst SalsaTekila says this is a sign Bitcoin has hit the depression phase of the cycle.

Bitcoin in the 'Depression Phase': $63,000 Holds Despite Saylor Selling, $100M Hack News

Bitcoin (CRYPTO: BTC) has spent eight weeks grinding inside the $58,000 to $67,000 range with no breakout and no breakdown. Yet, a decision will be forced before the end of the year, according to prominent analyst Benjamin Cowen.

Bitcoin Coils Between $58,000 And $67,000 for 8 Weeks: Which Way Does It Break?

Strategy sold $104M in Bitcoin last week to help prop up STRC, a financial product they created to

Morning Minute: Saylor Sells Bitcoin Again

Bitcoin is facing a fresh threat from quantum computers

Bitcoin's Worst Nightmare Has Suddenly Come True

The maker confirmed the flaw behind roughly $114 million in losses remains live, with specific models and firmware still exposed.

Coldcard urges users to move bitcoin as active wallet exploit continues

The multimillion-dollar Coldcard hack, anemic institutional demand, and uncertainty in the regulatory and macroeconomic environment are some of the pain points for the crypto market right now.

The bitcoin market has plenty of reasons to freak out, yet calm pervades

Cardano

Bitcoin advanced as the market settled down following the weekend's hack of Coldcard wallets and sales by Strategy even as sentiment remained in “extreme fear.”

Bitcoin rises toward $64,000 as Coldcard exploit, Strategy sales recede. ADA advances

Hashdex's DEFI, the smallest of the funds, held $14.7 million under management, compared with $47.08 billion for BlackRock's IBIT.

First U.S. spot bitcoin ETF to close as inflows dwindle, investors chase AI returns

Binance has launched Lite Loan, a bitcoin-backed borrowing product that lets eligible users borrow up to $1,000 in USDT.

Binance launches bitcoin-backed ‘Lite Loan' with $1,000 borrowing limit

Bernstein said a state-ordered audit of Texas data centers will heighten power scarcity across the regional grid.

Bernstein says Texas data center audit could boost value of existing bitcoin mining and AI sites

Japan may have spent as much as $36.6 billion buying yen in the first joint US-Japan action to support the currency since 1998. Bitget Wallet's Alvin Kan says it can slow a disorderly slide without reversing the broader trend.

Live updates: Bitcoin at $63,600 as rare US-Japan yen action tests carry-trade fears

The planned Gelephu Mindfulness City says 3iQ will run part of its bitcoin treasury on a market-neutral basis, a shift from holding the coins as a long-term national asset.

Bhutan's GMC puts part of its bitcoin treasury to work after 10,000 BTC pledge

Jim Cramer says he's dumping his bitcoin over quantum computing fears, but his track record of crypto and bank calls has buoyed the crypto community.

Why Jim Cramer's quantum panic isn't rattling bitcoin as price holds steady around $64,000

American Bitcoin Corp. (NASDAQ:ABTC) CEO Mike Ho sidestepped questions on Monday about selling Bitcoin (CRYPTO: BTC) to fund equity buybacks, a move some other companies in the industry have pursued. American Bitcoin's ‘North Star' During American Bitcoin's second-quarter earnings call, Ho was questioned about the company's treasury management strategy and whether it would contemplate selling Bitcoin to improve business economics, similar to the approach taken by Michael Saylor's Strategy Inc. (NASDAQ:MSTR).

Eric Trump-Led American Bitcoin To Adopt Michael Saylor's Approach of Selling BTC to Support Economics? CEO Says

Galaxy said on X that it suspects the losses to be greater once the yet-unconfirmed fourth wave of attacks is included.

Bitcoin losses from Coldcard hack could swell to $130 million, Galaxy Research says

Every major token except ether is green on the week, with BTC up 1.9% over 24 hours and Asian equities selling off on AI-trade jitters.

Bitcoin nears $64,000 as traders look past the fourth Coldcard sweep

A 12-year-old bitcoin wallet moved $31 million on Monday, part of a broader wave of dormant coins shifting since the Coldcard hack.

News for Bitcoin Crypto (BTC)