Bitcoin
Bitcoin is the pioneer of blockchains and cryptocurrencies, introduced in a white paper released in 2008 by an apparently pseudonymous person or group of people known as Satoshi Nakamoto. The document described a peer-to-peer method of transferring money without the use of financial institutions. The cryptocurrency known as bitcoin or BTC debuted in 2009. Transactions are recorded on a public ledger (a blockchain) by entities known as miners who engage in process called proof-of-work. Miners are rewarded for doing that by getting newly minted bitcoin. Some proponents view BTC as an alternative to fiat currencies and a hedge against inflation. Bitcoin has inspired the creation of numerous other cryptocurrencies and blockchain projects.
DISCLOSURE: This text was written with the assistance of AI, then reviewed by a person
Long Crypto Traders Feel Pain as Bitcoin's Slide Leads to $430M in Liquidations
Nearly 90% of all liquidations in the past 24 hours came from traders betting on the upside.
First Mover Asia: Mark Karpeles’ UnGox Wants to Help Investors Assess the Risks of Crypto Products; Bitcoin Drops Below $40K
The CEO of the infamous Mt. Gox crypto exchange is re-entering the industry with a rating service. But is he in touch with the latest developments?; ether also falls.
Market Wrap: Bitcoin Sell-Off Deepens as Correlation With Stocks Rises
BTC is down 40% from its November peak, compared with a 16% drop in the Nasdaq 100 over the same period.
Bitcoin Falls Below $40K for First Time Since Mid-March
Nydig, a bitcoin-focused asset manager, cites fears of rising inflation and a tighter Fed policy as reasons for the drop.
BTC Approaching $37-$40K Support Following Bitcoin 2022 Conference
Arca’s David Nage discusses his take on why BTC is approaching a support zone of only $37-$40K amid the excitement of the Bitcoin 2022 conference in Miami and the Luna Foundation Guard’s ongoing BTC purchasing spree. Nage tells why bitcoin is a “supply and demand asset,” noting possible sell-offs as investors prepare their taxes.
BTC’s 60-Day Correlation With S&P 500 Nears All-Time High
A chart from CoinMetrics indicates bitcoin’s 60-day correlation with the S&P 500 is nearing its all-time high after a dip in late February. Plus, the dollar index (DXY) reaching two-year highs today as “All About Bitcoin” host Christine Lee presents the “Chart of the Day.”
Bitcoin Approaches Support Zone at $37K-$40K
BTC is not yet oversold and is roughly two days away from a pause in selling pressure.
Why LFG's BTC Buying Spree Barely Moved the Markets This Time
The Luna Foundation Guard (LFG) added over $173 million in bitcoin (BTC) to its TerraUSD stablecoin reserves, totaling its holdings to almost 40,000 BTC, or roughly $1.67 billion. “The Hash” group discusses the lack of a bitcoin price reaction to LFG’s purchases, the correlation of bitcoin to traditional markets and the “tribal nature of crypto.”
Crypto Funds See Largest Weekly Outflows Since January
Some $134 million flowed out of digital asset funds in the week through April 8 as investors took profits and fled bitcoin-focused funds.
