The world’s biggest cryptocurrency, Bitcoin (BTC), is connecting more countries as the government of El Salvador is opening a “Bitcoin Embassy” in the United States.

The digital asset market has experienced its first significant pullback of the year, alongside news of heavy US regulatory moves, and SEC crackdowns. Simultaneously, the emergence of Ordinals and Inscriptions on Bitcoin is creating a new, and unexpected demand for blockspace.

Banks in the EU should start applying caps on bitcoin holdings ahead of global norms set by the Basel Committee on Banking Supervision (BCBS) taking effect, supervisors at the European Central Bank said Wednesday.

Since launching in January, the emergence of Ordinals and inscriptions has now surpassed 100,000 inscriptions, according to Dune Research data.

DBS Digital Exchange (DDEx), one of Asia’s first bank-backed digital exchanges, has reported a year-on-year increase of 80% in Bitcoin traded in financial year 2022, while the number of Bitcoin custodized with the bank doubled from 2021.

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According to Pantera Capital, over the long-term, Bitcoin has been in a secular uptrend of 2.3x annually over the past twelve years, on average.

Pantera Capital looks at Bitcoin’s current position in a recent newsletter and suggests that the crypto is entering a new bull cycle. So, what signaled the arrival of a seventh bull cycle for BTC?

Bitcoin was up 1.8% over the past day, trading around $22,190 by 3:15 p.m. EST, according to TradingView data. The leading crypto by market cap fell on the news that Paxos was ordered to stop issuing the BUSD stablecoin.

“Bitcoin is deflationary.” No, it isn’t. Stop saying that. The truth is complicated, and this article is going to break it down into three easy-to-understand chunks by exploring the way “time” affects the economic “view” of Bitcoin’s supply.