Market Update – Bitcoin Breaks Above $46,000

Analysis
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Bitcoin has ended the week breaking above the psychological barrier of $46,000 thanks to bears. At the moment, the cryptocurrency is trading at $46,220.92 after adding 2.85% over the course of the day.

The rest of altcoins from CoinMarketCap’s top 5 are also enjoying healthy gains with the only exception of Tether, which remains unchanged.

CoinMarketCap

The Bitcoin dominance index stands at 44.6%, while the total capitalization of the largest cryptocurrency in the market amounts to $873,487,206,000.

As far as the total capitalization of the market is concerned, it stays at $1.955T, almost touching the $2T mark.

Today we have reported that Anna Eshoo, member of the US House of Representatives, has asked in an open letter to Speaker Nancy Pelosi to amend the provisions on taxation of cryptos in the infrastructure bill. The Congresswoman has said that the definition of the term “broker” for the crypto industry in the document is too wide.

In addition, it has become known Jack Dorsey, CEO of social media platform Twitter, has just said the company might be adding support for the Lightning Network in the future.

Lastly, it has been known that FTX.US, a US subsidiary of crypto exchange FTX, has just announced it plans to offer cryptocurrency derivatives trading in less than a year.

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