Bitcoin's Remarkable Recovery

Bitcoin made significant strides on Friday, surpassing the $98,000 mark for the first time since Monday. This impressive recovery comes after midweek losses, propelling Bitcoin closer to the coveted $100,000 milestone.

In a notable development, Russian President Vladimir Putin recently signed a bill recognizing Bitcoin as property for tax purposes. This legislation subjects Bitcoin to Value Added Tax (VAT) rates ranging from 13% to 15% for individuals and 25% for crypto exchanges.

As of 10:07 am ET, Bitcoin surged by 2.85%, trading at $98,378.266. Ethereum also experienced a positive trend, increasing by 1.47% to $3,633.659 at the same time.