A proposed tax on electricity used by cryptocurrency miners in the U.S. has been scrapped in the deal to raise the country’s debt ceiling, according to Republican congressman Warren Davidson.
Bitcoin fell in Tuesday morning trading in Asia. Ether and most other top 10 non-stablecoin tokens also logged losses, while XRP gained.
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Bitcoin couldn’t maintain its Monday morning gains as the world’s largest cryptocurrency dropped below US$28,000 in the afternoon.
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Bitcoin moved back above US$28,000 on Monday morning in Asia, leading a rally among all top 10 non-stablecoin tokens. Ether reclaimed the US$1,900 level.
Unpacking the NFT disparity at Veecon & BTC Miami 2023: established ETH vs emerging BTC. CryptoSlam seeks to bridge the gap.
Bitcoin traded above US$26,000 as the uncertainty around the U.S. debt ceiling negotiations caused global concerns over a potential governmental default. Crypto markets will stay muted until a deal is reached, Industry experts told Forkast.