diff --git a/.github/workflows/build.yml b/.github/workflows/build.yml
index 440cc240399..5b886e19bff 100644
--- a/.github/workflows/build.yml
+++ b/.github/workflows/build.yml
@@ -16,8 +16,8 @@ jobs:
                      1.41.0,
                      # 1.45.2 is MSRV for lightning-net-tokio, lightning-block-sync, and coverage generation
                      1.45.2,
-                     # 1.49.0 is MSRV for no_std builds using hashbrown
-                     1.49.0]
+                     # 1.47.0 will be the MSRV for no_std builds using hashbrown once core2 is updated
+                     1.47.0]
         include:
           - toolchain: stable
             build-net-tokio: true
@@ -41,8 +41,8 @@ jobs:
             build-net-tokio: true
             build-no-std: false
             coverage: true
-          - toolchain: 1.49.0
-            build-no-std: true
+          - toolchain: 1.47.0
+            build-no-std: false
     runs-on: ${{ matrix.platform }}
     steps:
       - name: Checkout source code
diff --git a/fuzz/Cargo.toml b/fuzz/Cargo.toml
index 7c3d42067da..3b6d027df32 100644
--- a/fuzz/Cargo.toml
+++ b/fuzz/Cargo.toml
@@ -19,7 +19,7 @@ stdin_fuzz = []
 [dependencies]
 afl = { version = "0.4", optional = true }
 lightning = { path = "../lightning", features = ["fuzztarget"] }
-bitcoin = { version = "0.26", features = ["fuzztarget", "secp-lowmemory"] }
+bitcoin = { version = "0.27", features = ["fuzztarget", "secp-lowmemory"] }
 hex = "0.3"
 honggfuzz = { version = "0.5", optional = true }
 libfuzzer-sys = { git = "https://github.com/rust-fuzz/libfuzzer-sys.git", optional = true }
diff --git a/lightning-background-processor/Cargo.toml b/lightning-background-processor/Cargo.toml
index 9849ac44bc6..1659ffd3ea3 100644
--- a/lightning-background-processor/Cargo.toml
+++ b/lightning-background-processor/Cargo.toml
@@ -10,7 +10,7 @@ Utilities to perform required background tasks for Rust Lightning.
 edition = "2018"
 
 [dependencies]
-bitcoin = "0.26"
+bitcoin = "0.27"
 lightning = { version = "0.0.99", path = "../lightning", features = ["allow_wallclock_use"] }
 lightning-persister = { version = "0.0.99", path = "../lightning-persister" }
 
diff --git a/lightning-block-sync/Cargo.toml b/lightning-block-sync/Cargo.toml
index b72d91cda50..36bb5af9009 100644
--- a/lightning-block-sync/Cargo.toml
+++ b/lightning-block-sync/Cargo.toml
@@ -14,7 +14,7 @@ rest-client = [ "serde", "serde_json", "chunked_transfer" ]
 rpc-client = [ "serde", "serde_json", "chunked_transfer" ]
 
 [dependencies]
-bitcoin = "0.26"
+bitcoin = "0.27"
 lightning = { version = "0.0.99", path = "../lightning" }
 tokio = { version = "1.0", features = [ "io-util", "net", "time" ], optional = true }
 serde = { version = "1.0", features = ["derive"], optional = true }
diff --git a/lightning-invoice/Cargo.toml b/lightning-invoice/Cargo.toml
index ae37382fd34..404f12d76eb 100644
--- a/lightning-invoice/Cargo.toml
+++ b/lightning-invoice/Cargo.toml
@@ -9,11 +9,11 @@ keywords = [ "lightning", "bitcoin", "invoice", "BOLT11" ]
 readme = "README.md"
 
 [dependencies]
-bech32 = "0.7"
+bech32 = "0.8"
 lightning = { version = "0.0.99", path = "../lightning" }
 secp256k1 = { version = "0.20", features = ["recovery"] }
 num-traits = "0.2.8"
-bitcoin_hashes = "0.9.4"
+bitcoin_hashes = "0.10"
 
 [dev-dependencies]
 lightning = { version = "0.0.99", path = "../lightning", features = ["_test_utils"] }
diff --git a/lightning-invoice/fuzz/Cargo.toml b/lightning-invoice/fuzz/Cargo.toml
index 68a0d4e0a33..eb583a41c7e 100644
--- a/lightning-invoice/fuzz/Cargo.toml
+++ b/lightning-invoice/fuzz/Cargo.toml
@@ -15,7 +15,7 @@ honggfuzz_fuzz = ["honggfuzz"]
 honggfuzz = { version = "0.5", optional = true }
 afl = { version = "0.4", optional = true }
 lightning-invoice = { path = ".."}
-bech32 = "0.7"
+bech32 = "0.8"
 
 # Prevent this from interfering with workspaces
 [workspace]
diff --git a/lightning-invoice/src/de.rs b/lightning-invoice/src/de.rs
index 9c5120e4ad6..dbcb74e073a 100644
--- a/lightning-invoice/src/de.rs
+++ b/lightning-invoice/src/de.rs
@@ -250,7 +250,13 @@ impl FromStr for SignedRawInvoice {
 	type Err = ParseError;
 
 	fn from_str(s: &str) -> Result<Self, Self::Err> {
-		let (hrp, data) = bech32::decode(s)?;
+		let (hrp, data, var) = bech32::decode(s)?;
+
+		if var == bech32::Variant::Bech32m {
+			// Consider Bech32m addresses to be "Invalid Checksum", since that is what we'd get if
+			// we didn't support Bech32m (which lightning does not use).
+			return Err(ParseError::Bech32Error(bech32::Error::InvalidChecksum));
+		}
 
 		if data.len() < 104 {
 			return Err(ParseError::TooShortDataPart);
diff --git a/lightning-invoice/src/ser.rs b/lightning-invoice/src/ser.rs
index 5c7b4aa8978..7d9ca9eb895 100644
--- a/lightning-invoice/src/ser.rs
+++ b/lightning-invoice/src/ser.rs
@@ -117,7 +117,7 @@ impl Display for SignedRawInvoice {
 		let mut data  = self.raw_invoice.data.to_base32();
 		data.extend_from_slice(&self.signature.to_base32());
 
-		bech32::encode_to_fmt(f, &hrp, data).expect("HRP is valid")?;
+		bech32::encode_to_fmt(f, &hrp, data, bech32::Variant::Bech32).expect("HRP is valid")?;
 
 		Ok(())
 	}
diff --git a/lightning-net-tokio/Cargo.toml b/lightning-net-tokio/Cargo.toml
index d855529fa9c..928eab7aa40 100644
--- a/lightning-net-tokio/Cargo.toml
+++ b/lightning-net-tokio/Cargo.toml
@@ -11,7 +11,7 @@ For Rust-Lightning clients which wish to make direct connections to Lightning P2
 edition = "2018"
 
 [dependencies]
-bitcoin = "0.26"
+bitcoin = "0.27"
 lightning = { version = "0.0.99", path = "../lightning" }
 tokio = { version = "1.0", features = [ "io-util", "macros", "rt", "sync", "net", "time" ] }
 
diff --git a/lightning-persister/Cargo.toml b/lightning-persister/Cargo.toml
index 9ce4e8f683f..81c69d0ff97 100644
--- a/lightning-persister/Cargo.toml
+++ b/lightning-persister/Cargo.toml
@@ -12,7 +12,7 @@ Utilities to manage Rust-Lightning channel data persistence and retrieval.
 unstable = ["lightning/unstable"]
 
 [dependencies]
-bitcoin = "0.26"
+bitcoin = "0.27"
 lightning = { version = "0.0.99", path = "../lightning" }
 libc = "0.2"
 
diff --git a/lightning/Cargo.toml b/lightning/Cargo.toml
index 32c0d0af634..9a2861d6927 100644
--- a/lightning/Cargo.toml
+++ b/lightning/Cargo.toml
@@ -26,13 +26,13 @@ max_level_debug = []
 unsafe_revoked_tx_signing = []
 unstable = []
 
-no_std = ["hashbrown"]
-std = []
+no_std = ["hashbrown", "bitcoin/no-std"]
+std = ["bitcoin/std"]
 
 default = ["std"]
 
 [dependencies]
-bitcoin = "0.26"
+bitcoin = "0.27"
 
 hashbrown = { version = "0.11", optional = true }
 hex = { version = "0.3", optional = true }
@@ -43,7 +43,7 @@ hex = "0.3"
 regex = "0.1.80"
 
 [dev-dependencies.bitcoin]
-version = "0.26"
+version = "0.27"
 features = ["bitcoinconsensus"]
 
 [package.metadata.docs.rs]
diff --git a/lightning/src/lib.rs b/lightning/src/lib.rs
index 14445710655..5c414b7b233 100644
--- a/lightning/src/lib.rs
+++ b/lightning/src/lib.rs
@@ -31,6 +31,7 @@
 #![cfg_attr(all(any(test, feature = "_test_utils"), feature = "unstable"), feature(test))]
 #[cfg(all(any(test, feature = "_test_utils"), feature = "unstable"))] extern crate test;
 
+#[macro_use]
 extern crate alloc;
 extern crate bitcoin;
 extern crate core;
diff --git a/lightning/src/ln/channelmanager.rs b/lightning/src/ln/channelmanager.rs
index 6ebe802b50c..22458159544 100644
--- a/lightning/src/ln/channelmanager.rs
+++ b/lightning/src/ln/channelmanager.rs
@@ -5114,10 +5114,8 @@ impl<'a, Signer: Sign, M: Deref, T: Deref, K: Deref, F: Deref, L: Deref>
 mod tests {
 	use bitcoin::hashes::Hash;
 	use bitcoin::hashes::sha256::Hash as Sha256;
-	use core::sync::atomic::{AtomicBool, Ordering};
 	use core::time::Duration;
 	use ln::{PaymentPreimage, PaymentHash, PaymentSecret};
-	use ln::channelmanager::PersistenceNotifier;
 	use ln::features::{InitFeatures, InvoiceFeatures};
 	use ln::functional_test_utils::*;
 	use ln::msgs;
@@ -5125,12 +5123,15 @@ mod tests {
 	use routing::router::{get_keysend_route, get_route};
 	use util::events::{Event, MessageSendEvent, MessageSendEventsProvider};
 	use util::test_utils;
-	use std::sync::Arc;
-	use std::thread;
 
 	#[cfg(feature = "std")]
 	#[test]
 	fn test_wait_timeout() {
+		use ln::channelmanager::PersistenceNotifier;
+		use sync::Arc;
+		use core::sync::atomic::{AtomicBool, Ordering};
+		use std::thread;
+
 		let persistence_notifier = Arc::new(PersistenceNotifier::new());
 		let thread_notifier = Arc::clone(&persistence_notifier);