Bitcoin's Impressive Climb

Bitcoin made headlines again on Friday as it surpassed the $98,000 mark for the first time since Monday, showcasing a remarkable 2.85% increase. This surge brings the cryptocurrency closer to the highly anticipated $100,000 milestone, rebounding from midweek losses. The market's positive momentum is being closely watched by investors and analysts alike.

Ethereum's Performance

Ethereum, the second-largest cryptocurrency by market capitalization, also saw a notable increase of 1.47% during the same period, trading at $3,633.659. This uptick in Ethereum's value underscores the broader strength in the crypto market, reflecting a synchronized rally among major digital assets.

Regulatory Developments in Russia

Adding to the positive sentiment, Russian President Vladimir Putin recently signed a bill recognizing Bitcoin as property for tax purposes. This legislative move subjects Bitcoin to Value Added Tax (VAT) rates ranging from 13% to 15% for individuals and 25% for crypto exchanges. Such regulatory clarity is expected to further bolster the legitimacy and adoption of cryptocurrencies in Russia and potentially beyond.