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.

Wallet data shows the Royal Government of Bhutan moving bitcoin to trading firms and exchanges for the first time in months, as markets slide and volatility spikes across crypto and metals.

Bhutan moves bitcoin to trading firms and exchanges as BTC drops to nearly $70,000

During Asian trading hours, BTC hit a low of $69,101 on Bitstamp.

Bitcoin slides below $70,000 on Bitstamp

Crypto-related stocks also fell on Wednesday, with Coinbase shares closing down 6.14% and Bitmine dropping 9.17%.

Bitcoin slides below $71,000 to lowest level since October 2024

It is the same setup Michael Burry warned about this week, when he said falling crypto collateral can force metal selling in a feedback loop.

Silver's 17% plunge reignites market behaviour that once topped bitcoin

SkyBridge Capital CEO Anthony Scaramucci maintained his bullish outlook on Bitcoin (CRYPTO: BTC) on Wednesday, despite the leading cryptocurrency's continued slide. Scaramucci's Advice For Those Chasing Quick Gains In an X post, Scaramucci stressed that long-term success in Bitcoin depends on risk management and maintaining financial stability.

Anthony Scaramucci Says Bitcoin Doesn't Reward 'Being Early,' But Rather Those Who Are 'Psychologically Intact'

Bitcoin slid below the $71,000 mark in Asian hours Thursday as a renewed selloff in global technology stocks spilled into crypto markets, undercutting hopes of a sustained rebound after last week's volatility.

Bitcoin slips below $71,000 as AI-driven tech rout

The latest decline reflects a broader unwind in leverage, with investors reassessing Bitcoin's short-term role as an inflation hedge.

Bitcoin Extends Selloff as Macro Pressures and Leverage Unwind

On-chain data points to fading demand and tighter liquidity, while prediction markets show little expectation of near-term rate cuts.

Bitcoin slides toward $70,000 as on-chain data flags bear market and traders bet Fed holds in April: Asia Morning Briefing

Dogecoin

Ethereum

Leading cryptocurrencies fell further on Wednesday, while gold and silver held steady, as risk-off sentiment dominated the market.

Bitcoin, Ethereum, XRP, Dogecoin Deepen Losses, While Gold, Silver Hold Steady: Analyst Says Crypto Momentum 'Deteriorating Faster'

Bitcoin suffered its latest bloodshed on February 4, dropping to almost $72,000 as various factors combined to trigger continued declines in the digital currency.

Bitcoin Falls To Lowest Since 2024 As Multiple Headwinds Fuel Declines

Bitcoin Magazine Alleged Bitcoin Ransom Deepens Mystery in Nancy Guthrie Disappearance The search for 84-year-old Nancy Guthrie has escalated after TMZ reported receiving an alleged ransom note demanding millions in Bitcoin, complete with a deadline, threats of harm, and a verified wallet address. Alleged Bitcoin Ransom Deepens Mystery in Nancy Guthrie Disappearance Micah Zimmerman.

Alleged Bitcoin Ransom Deepens Mystery in Nancy Guthrie Disappearance

Bitcoin is hovering around 15-month lows as market sentiment stays firmly in “Extreme Fear” territory. Cryptocurrency Ticker Price Bitcoin (CRYPTO: BTC) $73,351 Ethereum (CRYPTO: ETH) $2,161 Solana (CRYPTO: SOL) $93.39 XRP (CRYPTO: XRP) $1.54 Dogecoin (CRYPTO: DOGE) $0.1035 Shiba Inu (CRYPTO: SHIB) $0.056622 Notable Statistics: Coinglass data shows 145,087 traders were liquidated in the past 24 hours for $631.75 million.

Bitcoin Hits 15-Month Low As Fear-Driven Selling Drags Ethereum, XRP, Dogecoin Lower

Treasury Secretary Scott Bessent pushed back against speculation around a Strategic Bitcoin reserve, making clear that the federal government has no legal authority to support or "bail out" Bitcoin (CRYPTO: BTC) using public funds. No Bitcoin Bailout Authority During a House Financial Services Committee hearing on financial stability risks, a lawmaker questioned whether the U.S. government could support Bitcoin by directing banks to buy it or by deploying taxpayer funds into crypto markets.

Treasury Secretary Scott Bessent Says US Has No Authority To 'Bail Out' Bitcoin

Bitcoin fell below $73,000 for the second straight day, extending a volatile week in which it lost nearly 18% of its value and erased about $500 billion from its market cap since mid‑January.

Bitcoin Falls to $72,000 Intraday Low, Market Cap Down $500B Since Mid‑January Peak

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

The Daily: Bitcoin slide renews four-year cycle fears, BitMine's Tom Lee calls unrealized ETH losses ‘a feature, not a bug,' and more

Bitcoin developer Luke Dashjr urged Blockstream CEO Adam Back to step down following a new release of files related to Jeffrey Epstein.

Early Bitcoin Dev Calls on Adam Back to Resign After Epstein Files Revelations

Treasury Secretary Scott Bessent came under intense scrutiny from lawmakers during a contentious House hearing Wednesday.

Bessent grilled over Trump-linked World Liberty Financial, says Treasury doesn't have the power to ‘bail out bitcoin'

Treasury Secretary Scott Bessent got into a yelling match with another congressman over the Trump family's crypto company, during testimony on Capitol Hill.

Can the Government 'Bail Out' Bitcoin? Congressman Prompts Bizarre Exchange With Treasury Secretary

Bitcoin Magazine Strategy ($MSTR) Shares Sink Over 20% in 5 Days as Bitcoin Crashes to $72,000 Shares of Strategy ($MSTR) fell further today as Bitcoin's sell‑off deepened. Strategy ($MSTR) Shares Sink Over 20% in 5 Days as Bitcoin Crashes to $72,000 Micah Zimmerman.

Strategy ($MSTR) Shares Sink Over 20% in 5 Days as Bitcoin Crashes to $72,000

Bitcoin Magazine Bhutan Continues Consistent BTC Selling as Bitcoin Price Tanks to $72,000 It looks like Bhutan sold $22.4 million in Bitcoin this week, continuing its pattern of periodic, strategic BTC sales. Bhutan Continues Consistent BTC Selling as Bitcoin Price Tanks to $72,000 Micah Zimmerman.

Bhutan Continues Consistent BTC Selling as Bitcoin Price Tanks to $72,000

Strategy (NASDAQ:MSTR) is now $630 million underwater on its Bitcoin (CRYPTO: BTC) holdings, wiping out $47 billion in unrealized profits from just four months ago as Bitcoin plunged below the company's $76,037 average cost basis. The Profit Wipeout Bitcoin fell 15% in the first four days of February, pushing Strategy's position underwater for the first time since the company began accumulating in August 2020.

Michael Saylor Loses $47 Billion Unrealized Profit As Bitcoin Dumps Below Strategy's Cost Basis

Publicly traded Swiss bank UBS is working on plans to offer digital assets trading and tokenized service offerings for users, its CEO said.

UBS CEO Details Crypto Plans Following Report of Bitcoin, Ethereum Trading for Wealthy Clients

The chief equity strategist of Zacks Investment Research says the worst is yet to come as the price of Bitcoin (BTC) falls below $74,000. In a new interview on CNBC, John Blank says the price of the flagship crypto asset may still plummet to around half of its current value.

Market Strategist Warns Bitcoin Meltdown to $40,000 Incoming, Says People Are ‘Tired' of the Crypto Trade

Bitcoin Magazine U.S. Treasury: US Government Cannot Deploy Taxpayer Funds to ‘Bail Out' Bitcoin As Treasury Secretary Scott Bessent testified before the House Financial Services Committee Wednesday morning, Rep. Brad Sherman pressed Bessent over whether the U.S. government could ever step in to “bail out” bitcoin.

U.S. Treasury: US Government Cannot Deploy Taxpayer Funds to ‘Bail Out' Bitcoin

Bitcoin (BTC) fell to a low of $75,067 on February 2, but is now correcting higher.

News for Bitcoin Crypto (BTC)