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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.

A wallet drainer operating on The Open Network (TON) has announced its shutdown due to a perceived lack of crypto whales within the community.

TON-Based Wallet Drainer Shutters Operations, Shifts Focus to Bitcoin

Bitcoin continues to hold its status as the best-performing asset class in 2024, despite a “seasonally weak” third quarter.

Bitcoin Maintains Top Performance Despite Q3 Weakness

Bitcoin is trading at prices between $62,856 to $63,016 at press time, with a market cap of $1.24 trillion and a 24-hour trade volume of $23.87 billion. Intraday, prices fluctuated between $62,120 and $63,909, showing signs of consolidation.

Bitcoin Technical Analysis: Uptrend Intact, But Indicators Warn of Short-Term Correction

The latest price moves in bitcoin (BTC) and crypto markets in context for Oct. 7, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Bitcoin Tests $64K Ahead of Busy U.S. Economic Data Week

Riot CEO Jason Les identified the Core Scientific and CoreWeave deal as an example but stressed the firm would not simply chase the AI hype.

Bitcoin miner Riot open to AI opportunities if the right deal comes along: Bernstein

The Bitcoin price has met some resistance, but analysts flagged upcoming inflation reports as potential catalysts for a continued rally.

Bitcoin Price Meets Resistance as Traders Set Sights on Presidential Election

Anduro has developed the RWA project Avant alongside tokenization platform Vertalo.

Bitcoin Miner Marathon's Anduro Unveils Tokenization Platform, Starts With Whiskey

Closely followed analyst Benjamin Cowen says that Bitcoin (BTC) will likely continue to outshine altcoins for the foreseeable future. In a new strategy session, Cowen takes a look at Ethereum in its Bitcoin pair (ETH/BTC), which is often used as a gauge for altcoin strength.

Analyst Says Bitcoin To Keep Outperforming Altcoins, Unveils ‘Big Level' BTC Needs To Overcome for a Bullish Q4

Metaplanet bought around 108.8 BTC at an average price of just under 9.2 million yen per coin.

Japan's Metaplanet Buys Another $6.7M Worth of Bitcoin

GoBTC Foundation supports innovative Layer 1 and Layer 2 projects to grow the Bitcoin onchain ecosystem. By providing investment, strategic guidance, and a platform for launching new tokens, this new foundation helps onchain projects accelerate growth and contribute to Bitcoin's future—one that may depend on onchain transactions more than we realize.

Unlocking Bitcoin's Future: GoBTC Foundation's Jeremy Dreier on the Crucial Role of Onchain Growth

Despite Bitcoin's recent strong performance and anticipation of new all-time highs, significant market dynamics are emerging.

Bitcoin Market Realized Price Hints at Long-Term Holders Taking Profits

Bitcoin (BTC) surged above $62,700 on Monday, gaining more than 1.32%, after a stronger-than-expected U.S. jobs report on Friday cooled recession fears.

Bitcoin Price Reclaims $62K Level on the Back of Strong Jobs Report

A closely followed analyst who correctly called Bitcoin's pullback earlier this year is unveiling his most bearish scenario for BTC. In a video update, pseudonymous analyst Rekt Capital tells his 90,500 YouTube subscribers that he's keeping a close eye on Bitcoin's reaccumulation support at $60,000.

Trader Who Nailed Bitcoin Pre-Halving Correction Outlines Worst-Case Scenario for BTC – Here's His Outlook

The Tokyo-listed firm purchased an additional 108.786 bitcoin, worth about $6.7 million at current market prices.

Japan's Metaplanet buys an additional $6.7 million in bitcoin, raises total holdings to over $40 million

Memecoins have been one of the best-performing crypto sectors in the past year, buoyed by vibrant social communities and attention in the market.

Bitcoin Nears $64K, “Memecoin Supercycle” Trends as MOG, POPCAT Surge

Welcome to Latam Insights, a compendium of Latin America's most relevant crypto and economic news from the past week. In this issue, El Salvador's President Nayib Bukele meets with President Milei in Argentina, offering bitcoin advice to the Senate, and Uruguay passes a cryptocurrency law after over two years of discussion.

Latam Insights: Bukele Offers Bitcoin Advice to Argentina, Uruguay Passes Crypto Law

Saylor Academy, a non-profit organization providing free and open online education material, introduced a new AI-powered course, “What is Money?” to help students grasp the philosophical aspects of the Bitcoin (CRYPTO: BTC) ecosystem.

Michael Saylor's Non-Profit Academy Launches Bitcoin Course Placing King Crypto At The Intersection Of Energy, Technology, And Anthropology

Bitcoin's rally is mainly on the back of positive US job market data and expectations of another Fed rate cut in November, analysts said.

Bitcoin climbs near $64,000 as analyst says US economy in ‘Goldilocks' state

The International Monetary Fund (IMF) has advised El Salvador to narrow the scope of its bitcoin law, strengthen regulation and oversight of the cryptocurrency, and limit public sector exposure. The IMF remains engaged with the country to support reforms and ensure bitcoin adoption does not threaten financial stability.

IMF Urges El Salvador to Tighten Bitcoin Law and Strengthen Oversight

Dogecoin

Ethereum

Leading cryptocurrencies rallied Sunday overnight as investors remained optimistic following a healthy employment report.

Bitcoin, Ethereum, Dogecoin Spike As Market Stays Upbeat After Better-Than-Expected Jobs Report: Analyst Says Every Bull Run Started In October — Will 2024 Follow The Trend?

A widely followed crypto analyst says that one meme asset that has seen a 300x surge in under a year is on the brink of sparking another major rally.

Trader Says Memecoin That's Skyrocketed Over 300x in Nine Months Still Looks Strong, Updates Outlook on Bitcoin

A closely followed crypto strategist believes it is within the realm of possibility for Bitcoin (BTC) to witness an abrupt rally to $68,000. Pseudonymous analyst Credible Crypto tells his 423,300 followers on the social media platform X that a relief rally is in sight for Bitcoin and the altcoin market.

Crypto Strategist Sees Bitcoin Potentially Rallying to $68,000 – But There's a Big Catch

Ethereum and Bitcoin, two of the world's largest blockchains, are facing significant challenges in scaling their networks. As more users and transactions move to layer two (L2) solutions, these systems could undermine the security and sustainability of the base layer (L1), with fees and rewards for miners and validators dwindling.

L2 Scaling Challenges May Undermine Ethereum and Bitcoin's Long-Term Security

An ancient Bitcoin (BTC) whale has just woken up after a nearly 11-year hibernation. Blockchain tracking bot Whale Alert says on the social media platform X that a whale wallet, worth less than $100,000 in 2014, is now worth millions. “A dormant address containing 100 BTC (6,113,890 USD) has just been activated after 10.

Ancient Bitcoin Address Awakens After Lying Low for Over a Decade, Moves $6,113,890 in BTC at 7,222% Profit

As of today, Oct. 6, 2024, the countdown to the end of the year continues, with just 87 days left. Bitcoin (BTC) is holding strong at just over $62,000, although it's still trailing 15.6% below its record high from seven months ago. Meanwhile, ethereum (ETH) is facing a steeper climb, currently priced at $2,432—sitting 50.

News for Bitcoin Crypto (BTC)