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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
Market Wrap: Crypto Pullback Deepens; Expect Higher Volatility
Analysts expect higher volatility ahead of Friday’s month-end expiry.
Bitcoin’s Next Move Ahead of Friday’s $2B Options Expiry
Volatility at the monthly bitcoin options expiry has been a noted pattern this year.
BTC Options Global Open Interest by Expiry
New data reveals the disposition of traders in bitcoin options markets ahead of Friday’s big expiry. Such expiration dates are closely watched as the market often moves toward the max pain point, with larger investors typically writing options seeking to push the spot price to the point where most contracts will expire worthlessly.
Bitcoin Eyes 200-Day Moving Average Support as $2B Options Expiration Nears
Bitcoin is again experiencing moderate price turbulence while heading into the monthly options expiration. CoinDesk's Damanick Dantes discusses his assessment and outlook for bitcoin as the cryptocurrency has reversed Wednesday’s gains and exposed the widely tracked 200-day moving average (MA) line located at $46,040. Plus, his take on the explosive growth of altcoins, including Cardano (ADA) and Avalanche platform's AVAX token.
Bitcoin Eyes 200-Day Moving Average Support as $2B Options Expiration Nears
The max pain price for Friday’s bitcoin options expiry is $44,000.
Hashrate ‘Ribbon Crossings’ Tend to Herald Bitcoin Bull Markets
Under normal historical conditions, with the price of bitcoin and hashrate increasing, the 30-day moving average (MA) sits somewhere above the 60-day MA. When the 30-day MA falls below the 60-day, moments are seen as buying opportunities in the spot markets for bitcoin, a pattern that’s proven relatively consistent over the past 2.5 years.
Argo Blockchain Answers Crypto Mining's ESG Challenge
U.K.-based crypto miner Argo Blockchain is calling itself the first publicly-traded cryptocurrency miner to become "climate positive." CEO Peter Wall discusses how his firm has "gone beyond net zero" in carbon emissions and whether renewables-focused mining could push the bitcoin price up further. Plus, his take on the impact of China's crackdowns on mining operations and plans for Argo to go public in the U.S.
This Tiny Oklahoma Bank Is Allowing Customers to Buy Crypto in Its Mobile App
Since February, Oklahoma-based Vast Bank, formerly known as Valley National Bank, has been helping select clients buy crypto with their bank accounts through a partnership with Coinbase. Now, it is inserting a crypto purchasing feature into its mobile banking app. "The Hash" team discusses the development as a potential glimpse into the continuous investor interest in bitcoin.
Bitcoin in Pullback Mode; Is It Due for Lower Lows?
Octavio Marenzi, CEO of capital markets consultancy Opimas, discusses bitcoin’s next move as the world’s largest cryptocurrency by market cap is down about 3% over the past 24 hours as buyers continue to take profits.
Crypto Adoption Shifts to Emerging Markets as China, US Drop in Chainalysis Global Rankings
Most bitcoin is traded on exchanges with central order books, but some are traded peer-to-peer (P2P). A new Chainalysis chart reveals smaller, emerging markets outside the U.S. and China are growing faster in crypto trading activity by this measure relative to what can be seen in the world's two largest crypto markets. CoinDesk's Galen Moore breaks down the Chart of the Day.