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Cryptocurrencies Price Prediction: Bitcoin, Meme Coin & Cryptos – American Wrap 12 March

Bitcoin price extends rally to $73K amid “euphoric” market sentiment

Bitcoin (BTC) price is on a meteoric rise, recording milestones without any signs of stopping. In a recent report by Glassnode, analysts say the pioneer cryptocurrency has pushed sentiment closer to euphoria.v

Large wallet investors, known as whales, are transferring their meme coin holdings to centralized exchange wallets. Specifically, three meme coins, Shiba Inu (SHIB), PEPE, and Dogecoin (DOGE), have seen a spike in exchange transfers. 

Typically, an increase in an asset’s supply on exchanges, accompanied by a price decline, is a bearish sign for the cryptocurrency. 

Biden resurrects 30% crypto mining tax in new budget proposal

United States President Joe Biden has revived the idea of a 30% tax on electricity used by crypto miners in his budget proposal for 2025. 
 

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