The cryptocurrency market digest (BTC, DOGE). Overview for 26.06.2023

The BTC exchange rate is about 30,250 USD on Monday. Over the past 24 hours, the flagship cryptocurrency has been moderately declining. However, it has gained about 14.5% within a week.

The last week was victorious for BTC as the leading cryptocurrency saw the most significant weekly result since March of this year. The weekly high was recorded at the level of 31,431 USD.

Several factors have worked in favour of buyers. First of all, this is the launch of EDX Market platform supported by The Charles Schwab and Fidelity. In addition, the giant BlackRock is getting ready to launch a cryptocurrency spot ETF. Following the investment fund, others, including Fidelity and Wisdom Tree, want to do the same. This is a good and promising signal: if the whales consider funds potentially profitable, it means they see conditions for an increase in prices.

BTC has broken the 31,000 USD level upwards. This opens the way for the buyers to 33,000-34,000 USD. A significant support level is at the 29,650 USD level, and the one below it is at the 29,200 USD level.

The capitalisation of the cryptocurrency market reached 1.176 trillion USD. BTC’s share has risen to 49.9%, while the share of ETH decreased to 19.2%.

Japan eases taxes for cryptocurrency companies

The Tax Agency of Japan intends to ease taxation for cryptocurrency companies. In particular, such companies could be exempt from paying tax on unrealised gains. This should facilitate running an industry-specific business in Japan.

Robinhood clients invest in Dogecoin

Robinhood clients invested about 1 billion USD in the DOGE token over the past month. According to publicly available data, Robinhood clients currently hold about 27.4% of the market supply of meme coins.