In the last 48 hours, Bitcoin (BTC) experienced a 13% decline from its recent all-time high of $73,835,

briefly dipping to around $60,000. This downward movement was triggered by market conditions becoming overheated, leading to what analysts refer to as a "pre-halving retrace" before the upcoming Bitcoin halving event, which is approximately 30 days away.

The duration of these corrections and their broader impact on Bitcoin ($BTC) remain uncertain as we move forward.

As we navigate through this sudden market downturn and potential unrealized losses, it's important to consider the approaching tax season.To safeguard yourself from potential losses, it's crucial to stay on top of your tax obligations. Remember, once funds are lost, they are gone.

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