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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.

For weeks, Germany's government has been selling hundreds of millions of dollars worth of bitcoin, placing selling pressure on the world's largest cryptocurrency.

The German government owns around $2 billion in bitcoin — and it's freaking out crypto investors

Bitcoin's price briefly declined to $55,000 following the blockchain transactions.

Bitcoin Drops as German Government Moves Another $500M of Assets

Bitcoin's (CRYPTO: BTC) recent plunge below $60,000 has sparked debate among crypto traders about the state of the bull market and how to approach trading in the current environment. What Happened: In their recent Casual Friday podcast episode, prominent crypto traders DonAlt and Crypto Cred discussed the implications of Bitcoin's drop from its all-time highs near $70,000 to lows around $54,000.

'Line In The Sand' Will Make Or Break Bitcoin's Bull Market, Top Traders Say

The German government just ramped up its Bitcoin liquidation efforts, moving over $900 million to crypto exchanges and market makers Monday.

Germany Speedruns Bitcoin Selloff, Moves $900 Million in Just 8 Hours

Bitcoin has retaken $57,000 despite significant selling pressure caused by BTC movements from the Mt. Gox estate and the German government.

Bitcoin Price Retakes $57,000, Causing $160 Million in BTC Liquidations

Ethereum

Solana

Bitcoin (CRYPTO: BTC) saw strong institutional inflows last week, despite a recent price slum dragging its price below $60,000. What Happened: According to a Monday CoinShares report, digital asset investment products experienced inflows totaling $441 million.

What's Going On With Bitcoin, Ethereum, Solana Asset Flows? Price Declines Due To Mt.

GOAT Network has secured 5,000 BTC in commitments from institutional node operators, with plans to open a Series A fundraising round soon.

Metis co-founder's ZKM plans to launch Bitcoin Layer 2 GOAT Network

The German government has sent even more bitcoin to exchanges and market makers today after doing the same earlier this morning.

German government continues to transfer thousands of bitcoins to exchanges and market makers

The German government shifted another $56 million in Bitcoin to exchanges, continuing to offload portions of its massive Bitcoin trove and fueling volatility amid creditor payouts from Mt. Gox.

German Government Moves Another $56M in Bitcoin to Exchanges

Bitcoin's price stands at $57,206, with an intraday 24-hour range between $54,296 and $58,441. The market capitalization is $1.12 trillion, and the 24-hour trade volume reaches $33.69 billion. Bitcoin Bitcoin's 1-hour chart shows a recent downtrend from $58,441 to $54,296, followed by a sharp recovery to approximately $57,500.

Bitcoin Technical Analysis: BTC Prices Rebound Following $53,550 Low

The latest price moves in bitcoin (BTC) and crypto markets in context for July 8, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: BTC Rebounds to $57K

Bitstamp says that, while it can take up to 60 days to make the upcoming bitcoin payments to Mt. Gox creditors, it will aim to do so swiftly.

Bitstamp will aim to distribute Mt. Gox bitcoin ‘as soon as possible' once it arrives

Markets have priced in Mt. Gox's ongoing repayments and U.S. policies could now start influencing the market, one trading desk said.

Bitcoin Climbs Over $57K, With Some Saying Mt. Gox Sales Already ‘Priced In'

According to onchain metrics, the German government has transferred an additional 1,205 bitcoin valued at $68.9 million. The funds were distributed to multiple addresses, including Coinbase and Bitstamp. Germany Divests Another $68 Million in Bitcoin As of 7 a.m.

German Government Moves 1,205 Bitcoin Amid Price Fluctuations

An increase in put options indicates trader demand for downside protection following bitcoin's recent price correction, analysts said.

Bitcoin options traders increase their downside bets as near-term implied volatility spikes: analysts

The recent increase in power fees enacted by the National Power Administration of Paraguay (ANDE) has bitcoin mining companies seeking alternatives in neighboring countries, such as Argentina and Brazil.

Rising Power Fees Begin to Drive Bitcoin Mining Companies From Paraguay to Argentina

The German government moved 250 BTC each to the two crypto exchanges, with a further 500 BTC sent to an unidentified address.

Germany Moves Another $28 Million in Bitcoin to Bitstamp, Coinbase

Japanese company Metaplanet bought another ¥400 million ($2.5M) in Bitcoin, continuing its strategy of accumulating Bitcoin as a treasury reserve asset to mimic MicroStrategy.

'Asia's MicroStrategy' Metaplanet Buys Another ¥400 Million Worth of Bitcoin

A widely followed crypto analyst says that investors likely can't expect Bitcoin (BTC) to spark a rally for at least a few more months.

Here's How Long the Bitcoin Correction Could Last, According to Analyst Benjamin Cowen

U.S.-listed mining companies produced a greater share of bitcoin in June than May as they brought on new capacity while the network hashrate dropped, the report said.

Bitcoin Mining Profitability Rose in June as Market Adjusted for the Halving: Jefferies

The German government continues to transfer bitcoins to centralized exchanges with the presumed intent to sell.

German government transfers another 1,000 bitcoins in ongoing selling spree

A widely followed economist believes several catalysts on the horizon could give Bitcoin (BTC) a massive shot in the arm. Economist Alex Krüger tells his 176,300 followers on the social media platform X that Bitcoin broke below its $60,000 psychological support as fears surrounding sell pressure from the German government and Mt.

Economist Alex Krüger Names Five Catalysts That Could Reignite Bitcoin (BTC) Bullish Momentum

Publicly traded Metaplanet Inc. has bought an additional 42 Bitcoin, valued at $2.4 million, as Japan's economy faces significant headwinds.

Japan's Metaplanet Scoops More Bitcoin Amid Sluggish Economic Growth

Data from Farside Investors revealed that US spot Bitcoin ETFs experienced their highest net inflows in a month, with $143.1 million pouring in on July 6.

Bitcoin Spot ETFs Saw $143M in Inflows, Highest in a Month

Japanese investment firm Metaplanet Inc. doubled down on its Bitcoin (CRYPTO: BTC) investment even as the digital currency continues to bleed. What Happened: The Tokyo Stock Exchange-listed company grabbed an additional 42.47 Bitcoins, according to a disclosure during Asian hours Monday.

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