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#bitcoinhalving #Megadrop #BullorBear #BitcoinBuzz #Bitcoin❗️ $BTC $BNB $ETH U.S. Senate Proposes 1% Tax On BTC Holdings Over $500K To Align Crypto With National Tax Regulations? The U.S. Senate on 21st April, Sunday, proposed a new tax regulation for the cryptocurrency industry. According to the new proposed regulation, individuals, trusts, and entities holding BTCs worth over $500,000 will be liable to pay 1% as tax. The aim is to treat digital and traditional assets equally and make sure they make their fair contribution to federal revenues. Further, this step reflects the growing significance of cryptocurrencies in the financial landscape. A well-known media house known crypto and Bitcoin investor with a substantial followers of 674.8K on the “X” platform recently posted a copy of a bill which was proposed by Elisabeth Warren to the President of the United States. In the bill, the Senate proposes that individuals, entities, and trusts holding cryptocurrency assets worth over $1,000 would be required to report to the Internal Revenue Service (IRS). The prime reason for this initiative is for the IRS to effectively monitor and enforce tax compliance in the cryptocurrency space. Source warren.senate.gov/legislation This tax initiative is proposed taking into consideration the growing wealth inequalities in the country because of the increasing number of cryptocurrency holders. By taxing the wealth earned from cryptocurrencies, contributors will make their fair share to support vital public services and investments. file:///var/tmp/com.apple.messages/com.apple.MobileSMS/LinkedFiles/216B6103-3C21-4F4A-98A5-83057D846246/GLxezgQWcAEIJ3e.jpg

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#bitcoinhalving #HalvingHorizons #BullorBear #BTCHalvingApril2024 Bitcoin (BTC) Price to Hit New ATH Before April 20th: Here’s Why. Bitcoin’s (BTC) price is attempting to rally beyond the resistance level of around $71,000 again after a fake breakout earlier this week that saw the instrument rebound to the support level of around $68,000. On-chain data shows that Bitcoin whales have accumulated more coins despite market volatility. In the latest update, South Korea’s pro-Bitcoin Democratic Party, which promised to allow investors to invest in spot BTC ETFs locally and overseas, has won the national election. The move follows a push by Hong Kong fund managers to offer regulated spot Bitcoin ETFs. After dumping into the market after the approval of spot Bitcoin ETFs in the United States, Grayscale’s GBTC recorded the lowest cash outflow of about $18 million on Wednesday. The move comes as Grayscale’s CEO Michael Sonnenshein announced plans to reduce the sponsor fee through the Grayscale Bitcoin Mini Trust, which is yet to be approved by the U.S. SEC. Meanwhile, BlackRock’s IBIT and Fidelity’s FBTC hold more than 411k Bitcoins combined. According to a popular crypto analyst, Lord Bright, the Bitcoin price must crash the resistance range between $71k and $72k in the coming days to set a new all-time high (ATH) before the halving event. A consistent Bitcoin price close to $72k in the coming weeks will propel the entire altcoin industry. According to a popular crypto analyst, Captain Faibik, the Bitcoin price will aim for $85k if it breaks out of the bullish pennant formation. $BTC $ETH $BNB

#bitcoinhalving #BullorBear #BTCHalvingApril2024 #BinanceACGroup #BinanceSquareCreator Bitcoin Price Tests Support Of This Pattern Amid Rising Inflation! Will BTC Price Plunge Hard? Bitcoin has been experiencing a downward trend for over 48 hours as investors eagerly awaited the release of CPI data. Following the recent release of CPI data, which surpassed expectations, BTC’s price felt the pressure and extended its decline towards weekly support levels. Analysts are now expressing concern, as breaching the pattern’s trend line could trigger bearish control. Bitcoin Struggles Amid Rising Inflation Following the U.S. Bureau of Labor Statistics’ report of a 0.4% rise in the Consumer Price Index for March, both Bitcoin and Ethereum experienced declines exceeding 2.5%. This indicates that inflation in March remained almost the same as it was in February, standing at 3.5%, as per the latest data from the Bureau of Labor Statistics (BLS). High inflation rates pose challenges for both crypto markets and stocks. This is because if inflation stays higher, it’s unlikely that the U.S. Federal Reserve will decrease federal interest rates. The existence of high interest rates strengthens the attractiveness of traditional safe investments like treasury bonds compared to crypto assets. At a Stanford University event, Federal Reserve Chairman Jerome Powell expressed confidence that the Fed wouldn’t increase rates in the short run. However, he also highlighted that there’s no urgency to decrease rates either. Last week, the U.S. Bureau of Labor Statistics provided an update on employment data, indicating a rise in payrolls for March with the unemployment rate remaining steady at 3.8%. Despite this, the announcement didn’t do well for crypto markets, which experienced a decline last week. The BTC/USDT pair is currently retesting the pattern’s ascending support line at $67K. While buyers are strongly defending the support line, a decline below this level could set the stage for the pair to trigger intense selloff, leading to a decline toward the support zone

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