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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.

The Italian government has proposed a capital gains tax jump on Bitcoin and other crypto assets, rising from 26% to 42%.

Italy Reveals 62% Increase in Bitcoin Capital Gains Tax

What is happening in Gaza, and the fact that Bitcoin is the only way to deliver aid to Gazans at this point, is one of the most powerful demonstrations of what Bitcoin is for in over a decade.

SHINOBI: Gaza is the most powerful demonstration of bitcoin since Wikileak

The price of bitcoin neared $68,400 on Wednesday, its highest since July.

Bitcoin hits highest level since July, boosting other coins and crypto-related stocks

MARA, a large publicly traded bitcoin miner, has announced the successful acquisition of a $200 million line of credit, collateralized by a portion of its bitcoin holdings.

Nasdaq-Listed Bitcoin Miner MARA Secures $200 Million Line of Credit to Fuel Strategic Growth

Ethereum

Widely followed crypto analyst Ali Martinez says that one historically accurate signal is once again flashing bullish for Ethereum (ETH). Martinez tells his 74,000 followers on the social media platform X that ETH may soar to new all-time highs (ATHs) after retesting the lower bound of an upward channel on the weekly timeframe.

Analyst Predicts All-Time High Rally for Ethereum, Says Bitcoin Flashing Signal That Led to Parabolic Surge

Binance Labs has invested about $1 million in Lombard Finance, the current largest Bitcoin liquid staking platform.

Binance Labs invests in Bitcoin liquid staking platform Lombard

Based on the latest figures from Tuesday's exchange-traded fund (ETF) trading sessions, the 12 spot bitcoin ETFs experienced another day of positive inflows, totaling $371.02 million. In contrast, the nine ethereum-based ETFs recorded outflows, with $12.7 million exiting the ether funds. Bitcoin ETFs Pull in $371M While Ethereum Funds Drop by $12.

Bitcoin ETF Inflows Climb While Ethereum Funds Face a Day of Losses

The network hashrate has risen 4% so far this month, while the hashprice is up less than 1%, the report said.

U.S.-Listed Bitcoin Miners Hit Record 29% of Network Hashrate in October: JPMorgan

"Bitcoin and crypto will rise as energy prices spike higher," Hayes wrote, if the conflict in the Middle East causes energy prices to rise.

Bitcoin Price Will 'Rise Stupendously' as Middle East Conflict Intensifies, Says Arthur Hayes

The crypto market has outperformed global equities this week, with bitcoin rebounding above the $68,000 mark.

Bitcoin's rebound to $68,000 triggers nearly $300 million worth of liquidations over past 24 hours

The firm intends to use the funding to bolster the USDh ecosystem such as through custodial partnerships and enhanced liquidity.

Bitcoin-backed stablecoin developer Hermetica raises $1.7 million in seed funding

Bitcoin's use as a store of value or a means of exchange is not mutually exclusive.

Bitcoin's False Dichotomy between SoV and MoE

Bitcoin dominance climbs to 58.91%, the highest level in 3.5 years, last reached in April 2021.

Bitcoin Tops $68K, With Dominance Over Crypto Market Hitting New Cycle High

The latest price moves in bitcoin (BTC) and crypto markets in context for Oct. 16, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Bitcoin Moves Above $68K Amid Renewed Bullishness

Capital gains in Italy have been taxed above €2,000 at 26% since 2023 after several new rules for cryptocurrency taxation were introduced.

Italy plans to raise capital gains tax on bitcoin from 26% to 42%: report

"The market is becoming fragile, and any loss of momentum could trigger a swift correction," an analyst from CEX.io told Decrypt.

Bitcoin Price Faces Correction Risk as Open Interest Surges Amid Low Trading Volume

CME Bitcoin Futures Open Interest Hits All-Time High with Third-Largest Five-Day Increase, Following Two Price Surges.

Open Interest on CME Bitcoin Futures Hits All-Time High, Signals Further Bullishness

Asset management giant Ark Invest predicted a positive turn for Bitcoin's (CRYPTO: BTC) price on account of the oversold conditions witnessed for the Stablecoin Supply Ratio Oscillator (SSRO.) What Happened: A recent report.

Cathie Wood's Ark Invest Says 'Uptrend' Developing In Bitcoin's Market Structure Because Of This Reason

Global investment bank Morgan Stanley (NYSE:MS) has actively pitched stocks and investments tied to Bitcoin (CRYPTO: BTC) to its clients this year, despite executive chairman James Gorman's skepticism about the leading cryptocurrency's potential. What happened: Earlier this year, Gorman, who stepped down from his CEO role after a 14-year stint, famously discussed his reservations about Bitcoin's investment appeal.

Morgan Stanley Chair James Gorman Once Said Bitcoin's Role In Wealthy People's Financial Fabric Would Be Very Small: The Investment Bank Is Now On A Roll Recommending King Crypto To Clients

Tesla, a pioneer in electric vehicles spearheaded by Elon Musk, reportedly transferred its entire Bitcoin holdings, 11,509 BTC valued at approximately $770 million, to new digital addresses.

Tesla Stirs Crypto Market With Unpredicted Bitcoin Wallet Activity

The open interest of Bitcoin (BTC) hit a staggering $19.8 billion on Oct. 15.

Bitcoin Futures Market Hits Record High, Signaling Strong Investor Confidence

A closely followed crypto analyst believes the lights are green for Bitcoin (BTC) to finally break out of its lengthy consolidation period. Pseudonymous analyst Jack Sparrow tells his 254,100 followers on the social media platform X that Bitcoin is clear for take-off after moving above $62,800.

‘Lights Go Mega Green' – Trader Unveils Massive Price Target for Bitcoin Following Abrupt BTC Rally

Traders seek upside exposure in BTC even as FX option indicate a bias a bullish bias for the dollar index.

Bitcoin's Inverse Ties With Dollar Index Challenged as U.S. Election Looms

Samara Asset Group, a Malta-based investment company focused on seeding tech and crypto startups, aims to follow the Microstrategy playbook by announcing a bond whose proceeds will grow its bitcoin portfolio.

Malta-Based Investment Company to Follow Microstrategy's Bitcoin Playbook

The Tokyo-listed firm has executed a roll up transaction of its bitcoin put options, updating the strike price to $66,000 from $62,000.

News for Bitcoin Crypto (BTC)