Bitcoin's Remarkable Recovery

Bitcoin made significant strides on Friday, surpassing the $98,000 mark for the first time since Monday. This impressive recovery follows midweek losses, setting the stage for Bitcoin to potentially breach the $100,000 milestone. The cryptocurrency's resurgence is a testament to its resilience and growing acceptance in the global market.

Russian Recognition of Bitcoin as Property

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. This move underscores the increasing regulatory acknowledgment of cryptocurrencies on the international stage.

Ethereum's Performance

Ethereum, another major player in the crypto market, also saw positive movement, adding 1.47% to reach $3,633.659 at the same time Bitcoin hit its peak. The performance of both Bitcoin and Ethereum highlights the overall bullish trend in the cryptocurrency market.