Bitcoin Rally Stalls: Binance Launches Tax Tool Ahead of Tax Season

• Bitcoin’s rally has stalled after coming close to forming a trading signal.
• FTX Group is asking politicians who received Bankman-Fried donations to return money by the end of the month.
• Binance Tax has been launched to help users prepare for tax season.

Bitcoin’s Rally Stalls

Bitcoin’s 2023 rally is stalling after coming tantalizingly close to forming a trading signal last seen when the token was setting records. The coin’s near 4% slide in the seven days through Sunday was the largest weekly drop since November, paring its year-to-date gain to 38%.

FTX Requests Donations Return

FTX Group said it is sending “confidential letters” to politicians and other political beneficiaries of Bankman-Fried, his deputies and his companies, asking them to return the money by the end of the month. In a press release the debtors said they “reserve the right” to try and force repayments – plus interest – through court action.

Binance Launches Tax Tool

Crypto exchange Binance announced it is launching a tax reporting tool to help users stay on track of their crypto transactions for tax reporting purpose, ahead of the tax season in many countries.

BTC/USD Analysis

BTC/USD saw a minor dip of 0.2% in the last session The Bitcoin-Dollar pair made a minor downwards correction in the last session, dropping 0.2%. The Stochastic indicator is giving a negative signal. Support is at 22431.3333 and resistance at 23671.3333. The Stochastic indicator is currently in negative territory.

Daily Economic Calendar

JP Current Account will be released at 23:50 GMT, US Redbook Index at 13:55 GMT, and US NFIB Business Optimism Index at 11:00 GMT.