U.S. to Propose Allowing Citizens to Pay Taxes with Bitcoin

Week of November 25 - December 1, 2025

Republican Representative Warren Davidson of Ohio has introduced the Bitcoin for America Act, which would allow Americans to pay their taxes with Bitcoin (BTC). Any Bitcoin received for tax payments would be stored in a National Bitcoin Reserve, and Bitcoin sent to the government for tax purposes would not be subject to capital gains tax.

El Salvador has announced the purchase of an additional 1,090 BTC, worth over USD 100 million, even though the International Monetary Fund requires the country to limit Bitcoin-related risks as part of the USD 1.4 billion loan arrangement. This new purchase brings the government’s total Bitcoin holdings to 7,474 BTC.

Standard Chartered assessed that the current market sell-off is similar to past corrections, both in the percentage decline and in the chart patterns. Current data indicates that the market is close to a bottom and may recover from here.

BlackRock is moving forward with the launch of a Staked Ethereum ETF. The aim is to generate additional returns by staking Ethereum (ETH) on-chain. This provides investors with passive yield averaging around 3.95 percent per year, which is different from previous ETF products that did not include this feature.

JPMorgan reported that the crypto market correction in November was not driven by traditional crypto-native investors. The correction mainly came from retail investors participating through Spot Bitcoin ETFs, representing more than USD 4 billion in asset flows, with funds shifting into the stock market instead.

Spot Bitcoin ETFs showed signs of recovery last Friday after facing heavy and continuous selling pressure. Bitcoin, Ethereum, and Solana ETFs all returned to net inflows at the same time for the first time in a week. Bitcoin ETFs alone attracted USD 238.4 million, following the USD 903 million outflow the previous Thursday, which was one of the worst days since launch.

Ray Dalio, the founder of Bridgewater Associates, revealed that he holds only around 1 percent of his investment portfolio in Bitcoin. He reiterated that Bitcoin still faces several obstacles before it can become a global reserve asset. Dalio previously suggested that investors consider allocating around 15 percent of their portfolios to a mix of Bitcoin and gold.

Technical Analysis

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Bitcoin (BTC)

Bitcoin (BTC) dropped to a low of USD 80,000 before buyers stepped back in. Combined with the RSI entering oversold territory, this could trigger a price recovery cycle. However, the short-term trend remains bearish. If the price cannot break and hold above the USD 90,000 resistance, attention should be paid to the possibility of cutting losses if it falls below the previous low.

Support: 2,600,000 THB / 80,000 USD
Resistance: 3,000,000 THB / 90,000 USD

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Ethereum (ETH)

Ethereum (ETH) dropped to USD 2,600, which can be used as a stop-loss level since the main trend remains bearish. However, if the price starts to hold above this level, a recovery trend could begin, with the first resistance at USD 3,050. Short-term profit-taking is possible due to ongoing price volatility, but if the price breaks through this resistance, it would signal a potential recovery trend.

Support: 84,000 THB / 2,600 USD
Resistance: 104,000 THB / 3,050 USD

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Balancer (BAL)

Balancer (BAL) gained 14.09% over the past week. The price recovered after hitting a low of USD 0.615, but the main trend remains bearish. The recovery has not yet broken the USD 0.776 resistance, so there is still a risk of further decline. Short-term profit-taking is recommended.

Support: 20 THB / 0.615 USD
Resistance: 28 THB / 0.776 USD

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Huma Finance (HUMA)

Huma Finance (HUMA) gained 12.29% over the past week. The price is currently moving sideways, deciding its next direction. If it moves downward, there is a support level at USD 0.0158, which should be used as a stop-loss if broken. If the price moves upward, the short-term resistance is at USD 0.029.

Support: 0.65 THB / 0.0158 USD
Resistance: 1.00 THB / 0.029 USD

Investment Trends

The cryptocurrency market came under pressure following the release of September Non-Farm Payroll (NFP) data, which exceeded expectations. This raised concerns that the Federal Open Market Committee (FOMC) meeting in December may not result in a rate cut.

In addition, a JPMorgan analysis indicated that if Strategy stocks are removed from the MSCI index, it could trigger selling pressure on other crypto-linked stocks, as well as tech stocks in general. The report noted that the market is entering a bubble-like condition, even though Nvidia’s earnings beat expectations, adding further pressure to the crypto market. The MSCI decision, expected on January 15, 2026, on whether to remove Strategy stocks could continue to weigh on the market until positive clarity emerges.

Meanwhile, at the end of the week, the FED Watch Tool showed that the probability of a rate cut in the FOMC meeting increased from 30% to 60%, easing some market concerns, but volatility remains.

Key highlights this week: On Wednesday, November 26, the Q3 GDP forecast and Producer Price Index (PCE) will be released. These figures are expected to influence market volatility.

Investment strategy: The market remains volatile despite recent price declines. Investors should enter gradually with smaller amounts. In addition to Bitcoin (BTC) and Ethereum (ETH), cryptocurrencies with strong fundamentals such as Solana (SOL) and BNB can also be considered.

References

Disclaimers

Cryptocurrencies and digital tokens are highly risky; investors may lose all investment money. It is important to study information carefully and invest based on your own risk profile.
Past returns or performance of digital assets do not guarantee future returns or performance.

Remark: The views, information, knowledge, and opinions expressed herein are those of the individuals involved and do not represent the views of Bitazza or its employees. Neither this email nor the content presented constitutes investment advice.

Topics: Crypto Weekly