Market Wrap: Bitcoin Underperforms Ether; Crypto Tax Ahead?
Bitcoin dipped below $40K as traders digest proposed crypto taxes.
Bitcoin is declining as regulatory concerns rise; ether is holding support.
Enactment of the bill, if it is passed and signed into law, is still far off.
Bitcoin buyers could maintain support above $36K.
Bitcoin is under pressure, although buyers could return for a brief bounce.
Put-call open interest ratio measures the number of open positions in put options relative to calls.