
The Bitcoin price has recovered from its tax harvesting year-end drop. BTC is trading right around $97,000 after gaining over 3.4% over the last 24 hours before press time. Keep in mind that Bitcoin hasn’t been able to regain the $100,000 since it slipped below six figures on Dec. 19.
Isaac Joshua—the CEO of token launch platform Gems—told Decrypt there’s little doubt The downturn “can largely be attributed to end-of-year tax-loss harvesting by investors,” he explained.
“Many have liquidated both Bitcoin ETFs and the underlying asset itself to optimize their tax reports, a common phenomenon in financial markets during this period,” Joshua
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