#BTC inflows on top 10 exchanges exceeded 5,000 BTC three times in one day following the release of the US consumer sentiment report. The inflows became more volatile towards the end of the chart, coinciding with a sharp drop in BTC price to $86.9k. This could indicate a panic sell-off or strategic profit taking by big players.
India is reevaluating its stance on cryptocurrencies due to shifting global perspectives. Economic Affairs Secretary Ajay Seth emphasized the need for a collaborative approach, noting that crypto assets transcend borders. This reassessment may delay the release of a discussion paper on cryptocurrencies, initially expected in September 2024. Despite stringent regulations and high trading taxes, India has led in global crypto adoption for the past two years.
📊👀 #BTC MVRV Momentum indicator shows that Bitcoin has remained in negative territory since the start of the year, signaling potential weakness in the market.
😨💸 In the last four hours, $1.3 billion has been liquidated
Markets tumbled as Trump’s new tariffs hit Mexico (25%), Canada (25%), and China (10%). Canada retaliated, Mexico considers countermeasures, and China plans a WTO complaint.
With S&P 500 giants like Amazon, Alphabet & Disney reporting earnings this week, plus key jobs data on Friday, traders brace for volatility.
🇮🇳 India considering crypto policy changes. 30% tax and TDS rules could be revised to match stock market regulations. New tax provisions will be applied retroactively from February 1, 2025. reuters
🗽👀 #BTC Trump’s FBI director nominee, Kash Patel, holds over $100,000 in Grayscale Bitcoin products and up to $100,000 in shares of Core Scientific, a Bitcoin mining company.