Bitcoin is the first and most popular cryptocurrency. It powers a peer-to-peer network for the exchange of value through the use of a decentralized protocol. The idea behind Bitcoin is to have a system where there is no middleman or central authority. Bitcoin refers to the Bitcoin software protocol as well as to the monetary unit, which goes by the ticker symbol BTC. At its most basic level, Bitcoin is useful for transacting value outside of the traditional financial system. You can buy and sell BTC for other cryptocurrencies alongside more traditional currencies at crypto exchanges like Binance, Kraken and Bitstamp.
Bitcoin was launched in 2009 by a mysterious person (or group of people) known as Satoshi Nakamoto. What sets Bitcoin apart is that it's completely decentralized, meaning no single entity controls it. Instead, it's maintained by a network of computers, known as miners, who validate transactions.
You can break a single Bitcoin down into 100 million tiny pieces called "satoshis." Owning and sending Bitcoin is fairly straightforward. You keep them in a digital wallet and can send fractions of a Bitcoin to pay for stuff. But when you dig into the technicalities, it's like peeling an onion—layer after layer of complexity.
All Bitcoin transactions happen on a blockchain. Think of it as a public digital ledger that everyone can see but no one can tamper with. Miners are the ones who validate and secure these transactions. They solve complex math problems to validate transactions and are rewarded with new bitcoins for their efforts.
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$BTC has navigated through a turbulent period, yielding an approx 5% gain over the past week, influenced notably by a myriad of factors including SEC’s ether futures ETF approvals and governmental decision-making. After yesterday's rally, it fell back to $27,629.
Ether futures ETFs, despite the hype, experienced a relatively insipid start, with volumes stagnating, which might underscore a larger narrative about asset stability and investor approach in the crypto space.
3/5
While the SEC delayed spot bitcoin filings last week they also sent the issuers comments regarding their S-1 filings (related to plumbing, legal). This is a break from the typical pattern of delay, delay, radio silence, and then denial. It's a welcome sign although the timeline remains unclear🤔 $BTC
We have seen a pretty nice pump from $BTC and dominance again above 50%. We don't hold $BTC, but still ... its good performance is essential for potential altseason.
$LINK is hovering around 8$, and if momentum lasts we could see 9$ soon. $RUNE is doing great, finally above 2$. Don't forget its peak was above 20$.
Still holding $INJ and $ROSE.
Have a nice day! 😉
1/4
Morning update:
Green dots once again showed us the direction early on and now we finally printed a meaningful bounce🚀 Bitcoin rose above $28k as over $400 million worth of shorts got liquidated. Now our sub $26k entry does not look that bad after all😉 $BTC
2/4
More importantly, the Coinbase Premium remains positive, signaling strong spot buy pressure coming from the US👌 $BTC
