Canada introduces 66.7% tax on capital gains ❗️

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📈 Markets

• Overall bias - Cautious 🟠 

• $64,800 - $65,300 has become a crucial resistance to break for BTC.

• ETF inflows ~81 mil negative — Demand here needs to really pick up or else we risk re-visiting the range lows at $58,500.

• BTC dominance is coming in at a resistance of 55.2%. Keep an eye on it’s breakout attempt. If dominance breaks out here, BTC could outperform alts, irrespective of the direction in which price decides to breakout.

• Many alts are at monthly lows, providing good opportunity for long-term investors to DCA in spot into fundamentally strong tokens.

• $64,500 & $67,200 are key resistances for Bitcoin and till we break these levels, the bias remains bearish.

📅 Today

66% tax on Capital Gains ⁉️ 

Governments are out of control! After Biden recently proposed 44% Capital Gains Tax in the U.S, Canada too is now cracking down on their Capital Gains Tax.

As of June 25, 2024, the inclusion rate increases from 50% to 66.67% for capital gains on many real estate investments in Canada.

Money earned from selling an asset like a business, a stock or real estate will now be taxed at 66.7%, instead of being taxed at 50%, for gains over $250,000.

As governments across the globe try band-aid the broken system, this is why we turn to Bitcoin!

El Salvador launches a public platform to track their BTC holdings 💯 

El Salvador has unveiled it’s Public Bitcoin Mempool, revealing it’s 5,748.76 BTC holdings worth $353 Million.

This allows details like treasury holdings and Bitcoin transactions in can be tracked 24×7.

Since Nov 18, 2022, El Salvador has been buying 1 BTC per day, as committed by their President Nayib Bukele over X almost 18 months ago.

📊 Stats

Educational 📔 

Analyzing Ethereum’s performance metrics👇️

Ethereum is well-positioned to achieve $1 billion in revenue after netting an income of $365 million in the first quarter of 2024.

The images below offer a deep dive into Ethereum’s business economics.

Source : Sandesh Suvarna

Chart of the day 📈 

INJ/USDT (4H - Long)

• Confluences & Rationale :

• 4H Discount zone

• 4H Horizontal support

• Daily horizontal support

• Daily Bullish RSI divergence

• 3 Other Bullish divergences on 1H

• 1H Bullish Order Book Imbalance

• Note : None of the content posted here is Financial Advise. This is for educational purposes only.

🤣 Meme of the day

That concludes our update for today!

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