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Today’s Cryptocurrency Headline

Lawmakers in the European Parliament have proposed taxing crypto assets to support the EU’s 170 billion euro (approximately $185 billion) budget. The published draft includes taxes on investors’ capital gains, transactions, and cryptocurrency mining. EU lawmakers Valérie Hayer and José Manuel Fernandes said “Regulating and taxing crypto assets at the EU level are more efficient than at the national level given their high mobility and cross-border dimension.”

BingX’s Bitcoin Chart

Source: TradingView & BingX

Bitcoin is down 1.78% over the last 24 hours and fell to an intraday low of $22,300. The largest cryptocurrency rose above $23,000 on Jan. 21 and Jan. 22, but the price could not sustain at a higher level, suggesting that the bears are protecting the level. The crypto Fear and Greed index is in neutral territory, suggesting the recent rally has boosted market confidence. The bulls will attempt to thrust the price above $23,000. If they succeed, the BTC/USDT pair could rise to $25,000.


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