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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 Bitcoin (CRYPTO: BTC) market has seen a notable uptick in futures trading, with open interest reaching an all-time high (ATH) of $32.9 billion, signaling increasing leverage and institutional participation. What Happened: Glassnode's weekly report highlights that a significant portion of this surge is being driven by a cash-and-carry strategy, where traders capture yield by holding spot positions while shorting futures contracts.

Institutional Bitcoin Investors Have Their Own Trading Strategies: Here's One

This surge in institutional interest is propelling Bitcoin's price back to an upward trajectory, with BlackRock's IBIT ETF leading the charge, recording an impressive

Institutional Inflows Power Bitcoin Surge Ahead Of US Elections

It's more difficult than ever to mine Bitcoin, yet individual miners occasionally persevere—and claim an enormous reward.

Solo Bitcoin Miner Hits the Jackpot With $222,000 Reward

Standard Chartered analyst Geoff Kendrick expects bitcoin to test its all-time high on the day of the U.S. presidential election.

Bitcoin could test its all-time high above $73,000 on day of US election, says Standard Chartered analyst

Bitwise's head of alpha strategies, Jeff Park, projects that a Trump win in the 2024 U.S. election could push BTC prices toward the $92,000 mark. Park isn't alone in this prediction; a number of analysts and financial institutions are entertaining similar thoughts.

Could Trump's 2024 Victory Send Bitcoin Soaring to $92K? This Bitwise Exec Thinks So

Bitcoin's Open Interest surged past $40 billion on Oct. 21, hitting $40.5 billion, according to CoinGlass, a pivotal moment in the crypto market. Open Interest, which tracks the total value of all active futures contracts, is a crucial sign of increased leverage and market buzz.

Bitcoin Open Interest Blows Past $40 Billion, Price Closing In On $70K – Is This The Moment Investors Have Been Waiting For?

Ki Young Ju, CEO of CryptoQuant, suggests that Bitcoin (CRYPTO: BTC) is on track to become a widely used currency by 2030, largely driven by the mass adoption of stablecoins. What Happened: Ju pointed out in a post on X on Thursday that Bitcoin's mining difficulty—a measure of competition—has surged by 378% over the past three years.

Bitcoin To Be A 'Mainstream Currency' By 2030? 'Increasingly Inevitable,' Says Industry Expert

Historically, only crypto-native companies held bitcoin on their balance sheets. However, a significant structural shift has occurred over the past four years.

Crypto for Advisors: Bitcoin on The Balance Sheet

STOKR, a digital asset marketplace based in Europe, has successfully raised $7.98 million in a recent funding round.

STOKR Secures $7.98 Million To Launch Bitcoin Treasury in Europe

Ethereum

India is considering banning cryptocurrencies such as Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) in favor of its own central bank digital currency (CBDC), with key regulatory institutions advocating for the move. This comes as the government is preparing a discussion paper on the future of crypto regulation in the country.

India Mulls Ban On Bitcoin And Ethereum In Favor Of 'Digital Rupee'

Chainlink

Botanix Labs is building Spiderchain to be compatible with EVM layers, allowing ny application or smart contract on an Ethereum layer to be effectively copied and pasted onto Bitcoin.

Chainlink Taps Botanix Labs to Expand Into Bitcoin for the First Time

"If Bitcoin breaks, then so does our industry as a whole, so we might as well use Bitcoin security for cross-chain DeFi," BOB co-founder Alexei Zamyatin, told CoinDesk.

Bitcoin Project BOB Maps Out How the Original Blockchain Could Take Over DeFi

Bitcoin's (CRYPTO: BTC) potential to reach new all-time highs could be linked to the movements of gold, according to experts, who draw parallels between the two assets based on historical trends. What Happened: As gold continues its upward trajectory, some analysts are looking to the yellow metal's performance as a potential indicator of when Bitcoin might experience its next major breakout, according to a Coindesk report.

Bitcoin Vs. Gold: Experts' Price Predictions See The Apex Crypto Catching Up Soon

Bitcoin options traders are increasingly buying post-U.S. election expiry call options in the $70,000-$80,000 range, according to an analyst.

Bitcoin options traders position for price gains post-U.S. election

On Oct. 24, at block height 867,127, a bitcoin wallet from 2011 suddenly moved 150 bitcoins, marking the first transaction in over 13 years. This is the fifth occurrence this month of bitcoins from 2011 being spent, and it's extremely likely that most of these transactions are all connected to the same individual or entity.

Vintage 2011 Bitcoin Wallet Moves $10M, Linked to All of October's 2011 Spends

A recent paper from the ECB in which the authors claim the existence of Bitcoin could impoverish non-holders and latecomers drew the ire from many bitcoiners

The ECB Economists Aren't Exactly Wrong About Bitcoin (They're Just Useless)

I just learned Jack Dorsey provides over 60% of Bitcoin Core's funding - I think we need to decentralize their support.

Does Jack Dorsey Influence Bitcoin?

Last month I compared Bitcoin's worst return to the worst return of other assets and stocks.

Bitcoin's Worst Return Vs. Best Of Others

Here's how even the worst bitcoin returns compare to the financial gains of other assets and stocks.

Bitcoin's Worst Return Compared To The Best Of Other Assets

Market analysts are sending mixed signals on Bitcoin‘s (CRYPTO: BTC) price trajectory in the coming days, with some highlighting strong underlying fundamentals and others pointing to concerning technical indicators. What Happened: On Oct. 23, Bitcoin spot ETFs saw a total inflow of $192 million, with BlackRock's (NASDAQ:IBIT) ETF receiving a massive $317 million.

Bitcoin Rally Stalls Around $67,000: Bull Trap Or Breakout Ahead Of The Election Next?

The latest price moves in bitcoin (BTC) and crypto markets in context for Oct. 24, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: BTC Rebounds to $67K After Subdued U.S. Economic Data Reading

Grammy-winning rapper Ermias Joseph Asghedom, better known by his stage name Nipsey Hussle, developed a conviction for cryptocurrencies much before they became a viable mainstream investment option. What happened: During a 2018 interview with Hard Knock TV's Nick Huff Barili, the Los Angeles-born music artist famously described cryptocurrencies as a form of "Karma.

Nipsey Hussle Called Bitcoin A Form Of 'Karma' Against 'Crooked' Traditional Banking System — Why The Grammy Winning Rap Legend Believed King Crypto Would 'Create An Option'

In the past seven days, over 1 million ounces have gone into gold ETFs, the biggest inflow since October 2022.

Gold Rally Needs to Pause for Bitcoin Price to Break All-Time High, Data Suggests

A widely followed crypto analyst is warning that Bitcoin (BTC) may be heading lower after tapping the $69,000 level on Sunday. Pseudonymous crypto trader Credible Crypto tells his 431,100 followers on the social media platform X that he is turning short-term bearish on Bitcoin. “I think our top is probably now in on BTC.

Crypto Analyst Issues Bitcoin Alert, Says BTC Primed To Nuke After Hitting Local Top – Here Are His Targets

Solana

Dominance refers to the ratio between the market capitalization of BTC to the total market capitalization of all cryptocurrencies combined and is often used as a gauge for market sentiment. PLUS: Some Solana tokens are up as much as 70%.

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