Bitcoin holds above US$45k as US vote on crypto tax nears

Bitcoin holds above US$45k as US vote on crypto tax nears

US Congress

Bitcoin managed to hold above its key US$45,000 price level on Tuesday as a key vote on crypto regulation neared in the US Senate, raising hopes of a further bull run.

In late morning trading in London, Bitcoin was up 2% in the last 24 hours at US$45,791, giving it a market cap of just over US$860bn.

The increase means Bitcoin has broken above its 200-day moving average for the first time since April, which was then followed by a strong bull run for the digital currency, leading many analysts to predict a similar trend will emerge this time.

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