Crypto World Today: A Day of Ups and Downs
The world of cryptocurrency is always changing, and today was no different. Bitcoin, the biggest cryptocurrency, had some ups and downs, but then it started to get better. Let’s look at what happened in the crypto world today.
Bitcoin’s Roller Coaster Ride
Bitcoin started the day by going down a little, but then it quickly went back up and tried to break through a wall at around $90,935[1]. This was because of some signs that showed it might go up, like a special pattern called a “MACD golden cross” and something called “overbought conditions on the RSI”[1]. Even though it went up and down a bit, Bitcoin stayed strong and ended the day around $89,500[5]. This is good because it shows that people still believe in Bitcoin.
Crypto Market Update Around the World
The total value of all cryptocurrencies in the world went up by about 1.72% in the last day, reaching $3.05 trillion[5]. Bitcoin is still the strongest, with about 61% of the whole market[5]. Some other cryptocurrencies did really well too, like MOVE, CRO, and SUI[5].
News about Rules and Laws
In the news about rules and laws, the United States put special taxes on things from Canada and Mexico, which could affect the crypto market[4]. There are also talks about making new rules for digital money, like Bitcoin, to keep it safe and private[4]. These things show that the crypto world is changing and working together with the regular world.
Other Important Things That Happened
Here are some other big things that happened in the crypto world today:
– Japan’s Crypto Tax Plan: Japan wants to lower the tax on crypto gains from a very high number to a much lower number[5].
– ETF Plans: Two big companies, Bitwise and Canary Capital, said they want to make special funds for Aptos (APT) and Axelar (AXL)[5].
– Coinbase’s Plans: Coinbase, a big crypto company, wants to sell special kinds of money called “tokenized financial assets”, but they need to know the rules first[5].
A Day of Mixed Feelings
What Happened and What’s Next
Today, the crypto market had some good news with Bitcoin getting better, but also some confusing news about rules and taxes. Bitcoin is doing better, but the whole market is still watching what happens with the rules and taxes. As people try to understand these mixed signals, we can see that the crypto world is changing because of things inside and outside of the crypto world.
Sources:
CoinStats,
Gallagher Insurance,
Goforth Solutions,
GovInfo,
GSR Markets