Bitcoin Regains Strength, Why Bulls Eye Strong Rally above $40K

Bitcoin(BTC) price started a fresh increase above the $38,500 resistance zone against the US Dollar. BTC even broke $40,000 and it is now correcting gains. Bitcoin gained traction above the $38,500 and $39,500 resistance levels. The price is now trading above $40,000 and the 100 hourly simple moving average.

White House reportedly supports only minor changes to the crypto tax proposal

The crypto community is pushing back against amendments to the crypto provisions of the White House’s infrastructure plan — which seeks to raise $28 billion for infrastructure funding through expanded crypto tax transactions and impose new reporting requirements for crypto “brokers.”

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