UPTOBER ON PAUSE?BTC TEST $66K

📊 Uptober on pause? BTC eyes $66K test!

Despite BTC's hesitation at $66K, CryptoQuant analysts have found a silver lining. Their metrics show a positive shift in retail demand, similar to what we saw before the last ATH! 🚀

Retail on-chain activity is bouncing back after 4 months of dormancy, with transactions under $10K up by 13% over the last 30 days. While this metric is highly sensitive to market sentiment and news, it offers insights into capital flow among non-institutional investors.

Small traders are coming back as BTC rises, signaling a drop in risk aversion. 🐳 Interestingly, whales have been sitting tight this whole time, quietly absorbing coins. Could this be the start of something big? 👀

⚠️ In Europe, cryptocurrency taxation is set to tighten.

Denmark will introduce a new tax, while Italy plans to increase the current rate. Italy intends to raise the capital gains tax rate on cryptocurrencies from 26% to 42%.

📌 In Denmark, the Tax Law Council has recommended that the government tax unrealized cryptocurrency gains. This means that investment income from cryptocurrencies will be taxed regardless of whether the crypto assets have been sold.

Experts suggest that the rate could also be 42%, and the new tax may apply not only to cryptocurrency acquired after the law is enacted but also to crypto obtained at any time before, as far back as January 2009 when Bitcoin was launched.

The relevant bills will be introduced in both countries in 2025.