What is BTC?

BTC, commonly referred to as Bitcoin, is the first decentralized digital currency, created in 2009 by the pseudonymous entity Satoshi Nakamoto. It operates on a peer-to-peer network utilizing blockchain technology, which enables secure and transparent transactions without the need for intermediaries. BTC is often viewed as a store of value and a hedge against inflation, with a capped supply of 21 million coins.

For the broader market edition, see OnlyAlpha Insights hub.

Bitcoin's price history is characterized by significant volatility and long-term growth. Following its inception, BTC traded for mere fractions of a cent, achieving parity with the US dollar in 2011. Major bull runs occurred in 2013, 2017, and 2020-2021, with each cycle reaching new all-time highs. The peak in 2021 saw BTC nearing $69,000. Since then, the market has undergone corrections and consolidation, with the current price around $64,691.71. Notably, long-term holders have reduced selling pressure, as dormant BTC movement reached a four-year low in July 2026.

• July 24, 2026: Bitcoin options open interest clusters near $70,000 and $72,000, signaling bullish sentiment. BTC settles near $65,000 despite a surge in oil prices.
• July 25, 2026: Bitcoin ETF weekly trading volume falls to its lowest since October 2024, while ether funds lead inflows.
• July 26, 2026: Bitdeer mines a record 990 BTC in June. Dormant Bitcoin activity hits a four-year low, indicating reduced selling by long-term holders.
• July 24-25, 2026: The Bitcoin Policy Institute joins the US State Department's digital freedom program, partnering with Palantir and Anduril.

Recent news has had mixed influences on BTC. The decline in dormant Bitcoin movement suggests reduced selling pressure from long-term holders, which supports price stability. The record mining output from Bitdeer indicates strong network fundamentals. However, the drop in Bitcoin ETF trading volume and the shift of inflows to ether funds may signal waning institutional demand for BTC in the short term. Geopolitical tensions and rising oil prices have not deterred the market, with BTC holding near $65,000. The involvement of Bitcoin advocacy groups in government programs could enhance regulatory clarity and long-term adoption.

BTC's market structure indicates consolidation around the $64,000-$65,000 level, with the 20-day EMA at $64,400 providing near-term support. The 30-day trading range has been between $57,800 and $66,956, suggesting a relatively tight range. The options market shows significant open interest at the $70,000 and $72,000 strikes, indicating potential upward momentum if resistance is breached. However, the decline in ETF volumes and the rise of ether funds could signify a shift in capital flows. The long-term outlook remains positive due to reduced selling from long-term holders and increasing institutional involvement through policy initiatives.

• Ethereum (ETH): Often compared to BTC, ETH has seen increased ETF inflows recently, drawing capital away from Bitcoin ETFs.
• Cardano (ADA): Cardano's co-founder has suggested that Bitcoin could lose its top spot if it fails to address quantum computing threats, highlighting governance differences.
• Bitcoin Cash (BCH): A fork of Bitcoin, it shares similar fundamentals but with different technical parameters.

Related reading

OnlyAlpha Insights hub

• ETH insights
• SOL insights
• BNB insights

Q: What is BTC?

A: BTC (Bitcoin) is a decentralized digital currency created in 2009, operating on a blockchain with a capped supply of 21 million coins.

Q: How has BTC performed historically?

A: BTC has experienced significant growth from near zero to over $60,000, with major bull runs in 2013, 2017, and 2020-2021. It is known for its high volatility.

Q: What news moves BTC?

A: News such as regulatory developments, institutional adoption, mining activity, and macroeconomic factors like oil prices can influence BTC's price.

Q: Is BTC a good investment?

A: BTC is considered a high-risk, high-reward investment. Its limited supply and growing adoption make it attractive to some, but volatility and regulatory risks remain.

Q: How does BTC correlate with Bitcoin?

A: BTC is the ticker symbol for Bitcoin, so they are the same asset. The terms are used interchangeably.

Q: What is the current price of BTC?

A: As of the latest data, BTC is trading around $64,691.71.