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Bitcoin faces volatility amid US jobs data and new regulatory proposals
Bitcoin is experiencing significant price volatility, trading between $83,000 and $87,000 following a failed attempt to sustain levels above $87,000. This movement follows a weak US jobs report, which showed only 29,000 new jobs in September, well below the expected 90,000. The report has shifted market expectations regarding Federal Reserve interest rate decisions, increasing the likelihood of a rate pause.
On-chain data from Glassnode indicates that investors from last year's rally are selling more coins daily than at any other point this year. Two major holder cohorts are currently underwater, with cost bases near $97,000 and $89,000. Meanwhile, the market is closely watching a new SEC proposal that would allow certain investment advisers and funds to hold digital assets directly if qualified custodians are unavailable.
In Germany, the Federal Ministry of Finance is considering a major tax reform. A draft proposal suggests implementing a 25 percent flat tax on crypto gains for assets purchased after December 31, 2026, which would eliminate the current one-year tax-free holding period for private investors.
Entities
Bitcoin · Federal Ministry of Finance · Federal Reserve · Glassnode · SEC · U.S. Securities and Exchange Commission
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Holders from one to two years ago have an average cost basis near $97,000. bitnewsbot.com
- [○ 1 SOURCE] Holders from six to twelve months ago have an average cost basis near $89,000. bitnewsbot.com
- [● 3 SOURCES] A draft proposal in Germany suggests a 25 percent flat tax on crypto gains for assets purchased after December 31, 2026, removing the one-year tax-free holding period. www.coinkurier.de · www.derwesten.de · www.ad-hoc-news.de
- [○ 1 SOURCE] Bitcoin investors from last year's rally are selling more coins per day than at any other point this year. bitnewsbot.com
- [○ 1 SOURCE] Analyst Frank Cappelleri identifies bullish technical signals and increased trading volume as indicators of a potential larger Bitcoin rally. www.btc-echo.de
- [● 4 SOURCES] The SEC has proposed a new regulation allowing certain investment advisers and funds to hold certain digital assets directly under specific conditions. rayhaber.com · www.dunya.com · www.karar.com · dmarketforces.com
- [● 4 SOURCES] US non-farm payroll employment increased by 29,000 in September, falling below the market expectation of 90,000. www.dunya.com · www.karar.com · coinpaper.com · bitcoinworld.co.in
- [○ 1 SOURCE] A weekly close above $87,500 is necessary for a strong Bitcoin rally. bitnewsbot.com