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The volatility in Bitcoin (BTC) 
$104,307 and major altcoins has led to notable fluctuations in the cryptocurrency markets. BTC, which previously reached an all-time high of $108,000, has now fallen below $94,000. In contrast, prominent altcoins such as Ethereum (ETH) 
$2,578, XRP, and Solana 
$177 (SOL) have experienced increases ranging from 3% to 5% over the past 24 hours. While the overall market situation presents a complex picture, these fluctuations offer both risks and opportunities for market participants.
Altcoins Surge: Virtual Protocol Leads the Way
In the last 24 hours, Virtual Protocol (VIRTUAL) recorded the most significant increase, gaining 35% in value and becoming a market favorite. Following closely was Zcash (ZEC) with a 20% increase. These surges are interpreted as signals of recovery in the markets.
Bitcoin and Overall Market Status
At the beginning of the day, Bitcoin (BTC) traded at approximately $93,984, pushing its market capitalization to $1.86 trillion. However, the downward trend in BTC has affected overall market sentiment. The total market capitalization worldwide has risen by about 2%, reaching $3.32 trillion.
The Fear and Greed Index, which indicates market sentiment, stands at 55, suggesting a “neutral” perception among investors. Additionally, trading volume has increased by 20%, reaching $170 billion, indicating a market uptick.
The IRS has stated that staking rewards are taxable, igniting discussions due to potential increases in the tax burden for investors. This overall uncertainty in the markets may prompt investors to reassess both their strategies and legal obligations.
