Will the UK sell newly seized $7.2B BTC, create Bitcoin treasury or pay victims?A ruling on loss vs. mark-to-market will decide who gets the upside and how coins hit the market.
Happy Thursday!The UK faces a crucial decision on handling $7.2 billion in seized Bitcoin as a ruling on loss versus mark-to-market could shape the market impact, while Bitcoin surged past $114,000 amid a short squeeze and weak US jobs data. The IRS has cleared the way for US companies to hold Bitcoin tax-free, potentially saving billions on unrealized gains. Meanwhile, strong demand and whale accumulation signal a possible Bitcoin rally to $200,000 before year-end. Catch up on these stories below. The global crypto market cap is $4.08 trillion, with a 24-hour volume of $191.86 billion. The price of Bitcoin is $118,635.75, and BTC market dominance is 58.2%. The price of Ethereum is $4,347.51, and ETH market dominance is 13.0%. The best-performing sector is DuckSTARTER, which gained 12%. The Crypto Fear & Greed Index is currently Greed (64). 📰 Top News
Will the UK sell newly seized $7.2B BTC, create Bitcoin treasury or pay victims?A ruling on loss vs. mark-to-market will decide who gets the upside and how coins hit the market. Why did the crypto market pump today? Everything that helped the leg-upShutdown jitters meet weak jobs data as Bitcoin vaults past $114,000 amid a short squeeze. US clears path for companies to hold Bitcoin tax-freeUS companies to benefit as IRS clarifies CAMT rules, potentially saving billions in taxes on unrealized crypto gains. Bitcoin rally looms with projections hinting at $200,000 surgeCryptoQuant reported surging Bitcoin demand and whale accumulation suggest potential rally to $200,000 by year-end. More News
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