Bitcoin faces $240B demand shock as ‘surprise’ tax refunds and new IRS crypto rules arrive
Bigger U.S. tax refunds, new crypto rules, and faster payouts are turning refund season into a real-world test of Bitcoin’s retail demand.
Happy Wednesday!
Bitcoin blasts to a 4-week high, smashing resistance levels with $77K in sight, as the Fed’s FedNow upgrade encroaches on XRP’s payments turf and a looming US credit crunch tightens liquidity gates, potentially slamming Bitcoin first in a $1.7T private credit storm. Dive into the full stories below.
The global crypto market cap is $2.51 trillion, with a 24-hour volume of $135.19 billion. The price of Bitcoin is $74,121.66, and BTC market dominance is 59.0%. The price of Ethereum is $2,346.01, and ETH market dominance is 11.3%. The best-performing sector is BRC-20, which gained 14%. The Crypto Fear & Greed Index is currently Extreme Fear (23).
📰 Top News
Bitcoin faces $240B demand shock as ‘surprise’ tax refunds and new IRS crypto rules arrive
Bigger U.S. tax refunds, new crypto rules, and faster payouts are turning refund season into a real-world test of Bitcoin’s retail demand.
Strategy’s STRC hits record trading volume after massive $1B Bitcoin purchase as market cap doubles since Friday
STRC lets Strategy buy 13,000+ BTC with almost no price swing — now analysts are warning about what happens if the music stops.
Bitcoin surges on $650 million short squeeze, passing $76,000 as US inflation numbers fuels risk asset rally
Bitcoin triggers a historic short squeeze after PPI misses by 0.7 points, but the Fed signal spooked pros.
Buy Borrow Die Guide Series: Why long-term crypto holders borrow against assets instead of selling
A strategic guide to liquidity management, capital preservation, and the real tradeoff between selling and borrowing crypto. Brought to you by CoinRabbit.