Crypto Market Analysis:

Bitcoin Shows Strong Uptrend, Eyeing $69k Resistance

Bitcoin (BTC) has continued its upward trajectory, finding robust support at the critical $66.6k level. This marks a significant development as the cryptocurrency aims to surpass previous all-time highs. However, the key obstacle remains at $69k, where substantial trading volume will be crucial to break through and establish new records.

Ethereum-based ETFs Approved by US Regulators, Opening Institutional Floodgates

In a landmark decision, US regulators have granted final approval for Ethereum-based Exchange-Traded Fund (ETF) products. This approval signals a major milestone for institutional investors, who now have direct access to over 71% of the $2.45 trillion crypto asset market through regulated investment vehicles. The move is expected to significantly bolster Ethereum’s position and further integrate cryptocurrencies into mainstream financial markets.

Indian Crypto Industry Awaits Potential Tax Reductions Amid Union Budget Announcement

The Indian cryptocurrency sector is on high alert as the Union Budget announcement looms large. Industry insiders are anticipating potential tax reductions that could provide a substantial boost to market sentiment and investment. This development comes amidst growing interest and participation in digital assets within the country, highlighting India’s evolving stance on cryptocurrency regulation and taxation.

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