Last Friday, the U.S. Department of Taxation and Finance finalized the crypto bill, and BTC rose sharply.

Bill Summary

The bill stipulates that cryptocurrencies will be taxed starting in 2026, and platforms need to submit trading information of all investors. It is worth noting that the bill does not include decentralized exchanges (DEX). This will lead more investors to turn to DEX to avoid disclosing trading information and evading crypto taxes.

In 2021, Biden passed the new infrastructure plan, an important part of which is crypto taxation. Laolang mentioned at the time that the United States will use ETFs and a series of means to open up trading links and support new infrastructure construction with a steady stream of crypto taxes.

Recent dynamics

The United States sued BN again a few days ago, which shows that even a huge compensation of billions of dollars still cannot meet the needs of the United States. This may just be the beginning. In the future, project parties will face stricter control and the amount of fines may continue to rise.

In contrast, DEX will usher in new opportunities, a large amount of risk-averse funds will turn to DEX, and the relevant ecology may breed new investment opportunities.

BTC analysis

BTC holdings have risen sharply, indicating that big fluctuations are coming. The hourly line shows an oversold rebound, repairing the decline. BTC rebounded along the 5-day line and entered a bull market. The $62,434 below is the key point of the box formed on June 26 and June 28. Only by standing firmly at $62,434 can BTC confirm the box support and enter a new round of upward trend. Next, BTC may rebound at $62,434.

Resistance: 63,925, 64,493, 64,986 Support: 62,434, 61,285, 60,166

ETH Analysis

Recently, 9,700 ETH have been transferred to Coinbase, suppressing ETH. ETH has moved up along the 5-day line, and the bottom of the hourly line has been continuously raised, showing the strength of bull support. The $3,443 below is the key point of the bull support line. Only when ETH stands firmly at $3,443 can it move higher in volume. Next, ETH may rebound at $3,443.

Resistance: 3536, 3595, 3652 Support: 3443, 3392, 3346

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