Denmark Declares Bitcoin Tax: $4 Billion BTC Options Faces Expiry

According to cryptocurrency reporter Colin Wu, 141,000 Bitcoin (BTC) options, worth a whopping $4 billion, are set to expire soon. The contracts carry a Put-Call Ratio of 0.74 and a max pain point of $24,000.

Moreover, apart from Bitcoin (BTC), 1.746 million Ethereum (ETH) options, worth $3.1 billion, are also nearing expiration. The ETH contracts have a Put-Call Ratio of 0.33 with a max pain point of $1,600. The Put-Call ratio is a popular metric in options trading that shows the balance between put options and call options. Put options are bearish bets, while call options are bullish. The max pain point, on the other hand, is when option owners will experience the greatest financial loss.

Bitcoin profits are taxable in Denmark

As the financial year comes to an end, the Danish Supreme Court has ruled that Bitcoin (BTC) profits are taxable. The rulings of the lower courts were upheld, which concluded that holding digital money is speculative in nature, the Supreme Court in Copenhagen declared on Thursday, March 30. In one instance, gains from the sale of Bitcoin (BTC) that had been bought were involved, whereas, in the other, it was the selling of digital money that had been mined. The court stated,

“The Supreme Court assumes that Bitcoin are generally only acquired with a view to being sold and, to a limited extent, to be used as a means of payment.”

However, the tax percentage is still not decided. Bitcoin (BTC) is currently facing resistance at $28,733, with support at $28060. The original cryptocurrency briefly crossed the $29,000 mark, before dipping once again. Nonetheless, BTC is at its highest level since June 2022.

Source: BTC/USDT Chart by Trading View

Although BTC has gained 73.33 % since the beginning of this year, the asset is still a long way down from its all-time high. Bitcoin (BTC) is currently 58.47% down from its ATH of $69,044, attained in November of 2021.

  • bitcoin
  • btc

Comments

Post a Comment

Popular posts from this blog

Barry Silbert deletes old tweets amid GBTC selloff

Under-fire Digital Currency Group founder Barry Silbert has apparently deleted a raft of his old tweets . According to his X (formerly Twitter) account, Silbert signed up in October 2011, however, at the time of writing, his timeline shows no tweets or replies older than January 5 this year. Luckily for die-hard Silbert fans, X user Pledditor has screenshotted some of his “greatest hits.” Looks like @BarrySilbert has deleted all his old tweets The good news? I have screenshotted some of his greatest hits pic.twitter.com/GLWPbCf5mN — Pledditor #FixTheFilters (@Pledditor) January 15, 2024 Read more: Former DCG advisor Larry Summers on list of Jeffrey Epstein’s ‘Harvard friends’ Among the messages saved by Pledditor is a classic in which Silbert brands himself a “ complete and total professional failure ,” and one in which he advises Dogecoin holders to convert it to bitcoin. It’s not clear what prompted Silbert’s Social Media cull but he’s currently taking Social Media flak
Read more

Trader Issues Warning on Solana Rival That’s Up 247% in One Month, Updates Outlook on LDO and One Other Altcoin

Image
A widely followed crypto strategist warns that a Solana (SOL) competitor that’s up more than 3x in the last 30 days is flashing signals that it may have printed a short-term top. The pseudonymous analyst known as Altcoin Sherpa tells his 205,700 followers on the social media platform X that while layer-1 blockchain Sei (SEI) is still in an uptrend, it starting to show signs of bullish exhaustion. “Why it looks good: -consolidation and highly bullish high time frame market structure -still bullish on all time frames -EMAs (exponential moving averages) all catching up + other alts looking strong Why it doesn’t: -could be an exhaustion pump here and last big move up -could be rotation from others (SOL/SEI/etc/) to ETH season also known as ARB/LDO/OP -dying volume/some signs of distribution here.”  Source: Altcoin Sherpa/X At time of writing, SEI is trading for $0.785, up over 247% from its 30-day low of $0.226. The trader is also keeping an eye on the price
Read more

Nuant becomes a member of the OpenWealth Association

On January 18, Nuant joined the OpenWealth Association, contributing to advancing digital assets risk management within Swiss banking, WealthTech, and traditional finance, per the information shared with Finbold. In doing so, Nuant recently joined traditional finance entities such as Credit Suisse, LGT, VP Bank, and WealthTech firms like Assetmax and InvestSuite. This strategic partnership represents a noteworthy progression in crypto investment risk management within Switzerland’s financial sector. The OpenWealth Association aims to establish, uphold, and implement open Application Programming Interface (API) standards within the global wealth management community. This commitment aims to facilitate seamless financial data exchange among institutions. Nuant as representative of the CeDeFi sector Cryptocurrency Anthony Scaramucci says Bitcoin to skyrocket to $170,000 by 2025 Cryptocurrency Donald Trump says he’ll ‘never allow a CBDC’ if elected
Read more