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Today’s market insights suggest that Bitcoin (BTC) might be hitting a “local bottom,” as CryptoQuant’s latest Analysis highlights. The NVT-GC tool, a key on-chain metric, is flashing bullish signals, hinting at a potential rebound despite earlier warnings of a possible downturn. Currently priced at $58,681, Bitcoin has dipped 3.8% over the last 24 hours after losing ground below $60,000.  However, a stronger recovery over the past week, with a 7.58% gain from lows of $49,500, shows a positive shift. The NVT-GC, comparing Bitcoin’s market cap to transaction value, hints at a turning point, similar to January 18 and July 12, which saw gains of 78% and 23%, respectively.   Biggest Crypto Gainers Today – Top List As Bitcoin flirts with recovery, the spotlight shines on today’s top gainers in the crypto market. Aelf and Curve DAO Token are making headlines with impressive gains, while Sui Crypto and Compound show steady progress. Aelf...

Prime Minister Justin Trudeau proposed a hike in capital gains tax of up to 66% earlier in 2024 to alleviate the financial pressure the housing market is putting on Canada’s citizens. This hike would include capital gains on stock trades and cryptocurrency sales, with an aim to bring in as much tax revenue as possible. However, citizens and companies alike are protesting the increase, and they are facing backlash. Even gains that weren’t previously taxed, such as approximately CAD 54 million ($39 million) in crypto currency taxes , might be targeted under the proposed hike. Picks for you Is the meme coin mania back to crypto? 14 mins ago We asked ChatGPT-4o what will be Bitcoin price at the end of 2024; Here’s what it said 30 mins ago Tether freezes $5 million in USDT amid phishing concerns 2 hours ago Ripple dumps 75% of May XRP reserves in a single sell-off 2 hours ago Undisclosed gains from crypto amount to $40 million The Canada Revenue...