Bitcoin Slides Toward $113K Amid Profit-Taking & Fresh Regulatory Scrutiny in India
Bitcoin’s recent momentum seems to be cooling down. After reaching a peak of $124K, the crypto market is now seeing a correction—Bitcoin is hovering around $113,000, and the regulatory spotlight in India is getting brighter. Read on for what investors should note today.
What’s Happening with the Price?
Bitcoin has fallen ~9% from its recent high, now trading near $113K. Experts attribute this drop to profit-taking, rising inflation concerns, and a tempering of bullish sentiment. Support around the $100K–$110K range may still hold strong.
- Profit-taking after $124K all-time high
- Inflation fears and macroeconomic jitters
- Short-term holder capitulation shown in whale activity
0
India’s Tax Authority Steps In
The **Central Board of Direct Taxes (CBDT)** is seeking feedback on tightening crypto regulation—specifically around the 1% TDS on Virtual Digital Asset (VDA) transactions, loss offsetting, and oversight of crypto trade practices.
These are early signs that **tax policy and compliance rules may evolve soon**, impacting how Indian traders manage entries, exits, and losses in crypto.
1
Why This Matters for Indian Crypto Investors
- Price corrections can signal short-term buying opportunities
- Regulatory clarity (especially on TDS and loss offset) could affect your tax strategy and net gains
- Staying informed helps avoid surprises when buying or selling
Related Posts You Should Read
Final Thoughts
Bitcoin’s dip below $113,000 is a moment for cautious reflection—not panic. Combine market analysis with staying updated on India's crypto policy changes, and you’ll be well-positioned for the next move.
Comments
Post a Comment