Institutional tax-loss harvesting weighs on the Bitcoin price as 2021 comes t...
BTC price retests the recent lows at $46,000 as institutions appear to be “selling for tax reasons” while $52,000 remains a major hurdle in the path higher. 2021 has been a breakout year for the cryptocurrency market as a whole despite the year-end struggles that have kept the price of Bitcoin (BTC) pinned below $48,000, much to the chagrin of the cadre of folks who had been calling for a $100,000 BTC moonshot. Data from Cointelegraph Markets Pro and TradingView shows that the past 24 hours have been a rollercoaster ride for the top cryptocurrency after a brief dip below $46,000 in the....
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“If you've made a sale during the tax year, and you've sold at a loss, there's basically a benefit there,” says Koinly’s head of tax. Crypto investors — particularly those that bought in toward the top of the market in 2021 — may be able to find some salvation through a tax-saving strategy called “loss harvesting” according to Koinly’s head of tax. Koinly is one of the most widely-used crypto tax accounting firms online. Head of tax Danny Talwar told Cointelegraph that while most retail investors are aware of their obligation to pay capital gain taxes (CGT) when they make profits, many are....
On-chain data suggests Bitcoin buyers who entered at the top may have already capitulated. Last time such a trend happened was back in July 2021, following which a new bull rally occurred. Lackluster Bitcoin Sell-Off Recently May Suggest Top Buyers Have Already Capitulated As per the latest weekly report from Glassnode, there hasn’t been any significant loss realization recently despite world-changing events taking place this week. The relevant on-chain indicator here is the “net realized profit/loss,” which tells us whether the overall Bitcoin market is realizing profits....
Thailand's cabinet approved tax relief for bitcoin and cryptocurrency investors giving a value-added-tax and loss-harvesting tools to offset taxes.
Chainlink and Aave soared to a new all-time high as Bitcoin bulls struggle to hold BTC price above $32,000. Bitcoin (BTC) price opened the weekend trapped within the $33,500 to $32,000 range but at the time of writing the digital asset is struggling to hold above $32,000. A few analysts have warned that the recent price loss of momentum may be a sign of ‘institutional exhaustion’ as selling pressure from Asia has increased since Jan. 19. Despite Bitcoin’s current downtrend, some institutional investors are sticking to their prediction that BTC price will reach $100,000 before the end of....
MicroStrategy currently holds a total of 125,051 BTC acquired for $3.78 billion at an average price of $30,200 per Bitcoin. MicroStrategy, the fortune 500 company with a 125,051 Bitcoin (BTC)-strong treasury, announced its Q4 2021 financial results on Feb. 2.The institutional software solution provider reported a net loss of $146.6 million incurred in impairment charges on its Bitcoin holdings. The high impairment losses added to the company’s operating expenses which saw a 125% increase at $248 million as compared to the same quarter last year.An impairment loss is a recognized reduction....