Bitcoin Range-Bound as Crypto Taxes Change
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Bitcoin struggled to breach $70,000 this month, while inflation rates decreased in Japan and some countries reevaluated crypto tax codes.
The taxman cometh. In February, the tax authorities of four countries began to reconsider how they tax crypto.
In the US, the number of crypto ATMs hit nearly 40,000, returning to 2021 levels of interest in crypto kiosks. The number of installations had dipped significantly after the crypto crash of 2022.
Japan’s inflation dipped below 2% in February, less than in the United States. Berkshire Hathaway CEO Warren Buffett said earlier this year that dollar investments were looking less attractive as the yen is providing a more stable currency.
Bitcoin was stuck below $70,000 this month. Many crypto observers have noted that US tariffs are putting pressure on the asset. US President Donald Trump’s new 10% levy has done nothing to alleviate this.
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