Bitcoin prices remained almost flat and traded marginally above the $19,000 level after enjoying its strongest rally in over three months last week. The majority of crypto tokens traded unchanged on Wednesday ahead of US inflation data. A rise in inflation would keep central banks on the path of aggressive interest rate hikes.

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The world’s largest cryptocurrency by market capitalization was up more than 13% for the week so if the move holds that would be the biggest gain for such a span since 2021. The digital token is down over 56% so far this year, and trading over 70% below its record high of $69,000 it had hit in November 2021.

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The crypto industry has been shattered by troubled lenders, collapsed currencies, and an end to the easy money policies of the pandemic that fueled a speculative frenzy in the financial market. Around $2 trillion has vanished from the market value of cryptocurrencies since last year, according to data released by CoinGecko.

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The global cryptocurrency market cap was at $882.44 billion, up 0.94% in the last 24 hours. However, the total cryptocurrency 24 hours trading volume is $55.77 billion.

The Bitcoin fear and greed index on Wednesday, July 13, 2022, went from the extreme fear level of 16 to the level of 15 as per the alternative. me. The Fear and Greed index is a technique for assessing investors’ emotions toward the market.

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Bitcoin is currently trading at $19,775.70, up by 0.48%. In the last 24 hours, the highest it touched was $19,973.58 and the lowest was $19,292.33. Bitcoin has a current market cap of $377,654,347,462. It has a circulating supply of 19,092,637.00. BTC coins have a maximum supply of 21,000,000 coins.

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Bitbns introduces tax shield to ‘avoid’ TDS on SIP investments in cryptos

In an attempt to provide relief to already struggling investors and revive the falling volumes, crypto trading platform Bitbns has announced Zero TDS on its SIP investments in cryptos. The initiative aims to reduce the taxation from the investors, encouraging them to undertake systematic investment plans (SIP) to leverage the benefits of rupee cost averaging to counter volatility. Investors availing of SIP for a minimum period of 12 months can invest without worrying about paying the TDS. While there is no minimum period for redemption, Bitbns will bear the TDS for SIP investments redeemed after 12 months.