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Neuer Token BLACKSWAN erreicht innerhalb von 24 Stunden einen Marktwert von 3,7 Millionen Dollar
Ein neu eingeführter Kryptowährungs-Token, bekannt als BLACKSWAN, hat innerhalb seiner ersten 24 Stunden des Handels einen Marktwert von etwa 3,7 Millionen Dollar erreicht und zieht Aufmerksamkeit auf sich, während die breiteren Krypto-Märkte Anzeichen einer Erholung nach einem kürzlichen Rückgang zeigen.

Der rasante Anstieg wurde zuerst vom X-Konto Whale Insider hervorgehoben und später durch Marktverfolgungsdaten bestätigt, die von Branchenbeobachtern überprüft wurden. Nach der Überprüfung der Informationen zitierte hokanews die Entwicklung als Teil seiner Berichterstattung über aufkommende Trends im digitalen Asset-Markt.

Cryptoassets VAT exemption confirmed – 0.1% transfer tax proposed
No VAT on crypto transfers and regulated trading
0.1% transfer tax for individuals and nonresident institutions
20% corporate income tax for resident organisations
Vietnam has taken a significant step toward formalising the tax treatment of cryptoassets – including digital currencies such as Bitcoin. On 6 February 2026, the Government confirmed it is drafting a Circular to prescribe tax rules for crypto transactions, aligning them more closely with securities trading while introducing a new low-rate transfer tax regime.

The proposals sit within Vietnam’s five-year pilot programme for digital asset regulation, launched in September 2025.

VAT: Crypto transfers exempt
Under the draft Circular, transfers of crypto-assets would not be subject to VAT. This follows the example of Thailand and Indonesia. and much of the rest of the world. This is on the basis that it is a non-fiat currency, and not an asset with intrinsic value.

Previously, Vietnam had no clear statutory framework addressing whether crypto transfers could be treated as taxable supplies of goods or services.

What this means in practice:

No output VAT on crypto transfers executed via licensed platforms.
No corresponding VAT deduction framework (as the activity falls outside the scope).
Alignment with global trends where crypto trading is treated similarly to financial instruments rather than goods.
0.1% Transfer Tax on individuals
Separately, the Ministry of Finance has proposed a 0.1% tax on the value of cryptoasset transfers made by individuals through licensed service providers.

This mirrors Vietnam’s securities trading tax model, where transactions are taxed on gross value rather than net gain. This design reduces the compliance burden compared to capital gains-style calculations, but effectively introduces a turnover-based micro-levy.

Corporate Income Tax: 20% for Vietnam-resident organisations
Vietnam-based organisations transferring digital assets would be subject to 20% corporate income tax (CIT) on the value of their digital asset transfers.

The drafting suggests crypto activity will be treated as part of taxable corporate business income rather than a special regime.

Nonresident institutional investors
Nonresident institutional investors transferring cryptoassets through a Vietnamese resident service provider would face: 0.1% tax on the value of each transfer. This ensures parity between domestic and foreign participants when operating via Vietnam-regulated platforms.

$BTC Bitcoin has now crashed a staggering -53% in just 120 days, and what's truly unsettling is the lack of a single, monumental negative news event to explain it. While macro pressures undoubtedly play a role, I believe they aren't the primary culprits behind Bitcoin's relentless decline. The real driver is something far more significant, something that most people aren't fully grasping yet.
​The Evolution of Bitcoin's Price Discovery
​$BTC Bitcoin's original valuation model was elegantly simple: a fixed supply of 21 million coins, with price movements dictated by genuine buying and selling on spot markets. In its early cycles, this model largely held true. But today, that fundamental structure has undergone a profound transformation.
​A substantial portion of Bitcoin's trading activity has migrated from traditional spot markets to synthetic markets. This includes a growing array of instruments such as:
​Futures contracts
​Perpetual swaps
​Options markets
​ETFs
​Prime broker lending
​Wrapped BTC
​Structured products
This shift allows investors to gain exposure to Bitcoin's price without requiring actual Bitcoin to be transacted on-chain. This fundamentally alters how price is discovered, as selling pressure can now originate from derivative positioning rather than solely from real holders divesting their coins.
​Consider this: if large institutions establish significant short positions in futures markets, the price of Bitcoin can decline even if no spot Bitcoin is sold. Furthermore, when leveraged long traders face liquidation, forced selling occurs through these derivatives, accelerating downside moves. This creates a dangerous cascade effect where liquidations, not spot supply, become the primary drivers of price action.
​This explains why the recent sell-offs appear so structured. We've witnessed waves of long liquidations, funding rates flipping negative, and open interest collapsing – all clear indicators that derivatives positioning is orchestrating these moves. So, while Bitcoin's hard cap of 21 million coins remains unchanged, the "effective tradable supply" influencing price has dramatically expanded through synthetic exposure. Today's price action is a complex interplay of leverage, hedging flows, and positioning, not just simple spot demand.
​Beyond Derivatives: A Confluence of Macro Headwinds
​While derivatives are a major factor, they are not operating in a vacuum. Several other critical elements are contributing to the current dump:
​1. Global Asset Sell-Off:
The selling isn't confined to crypto. Stocks are declining, and even traditional safe havens like gold and silver have experienced volatility. Risk assets across the board are undergoing a correction. When global markets transition into a "risk-off" mode, capital first exits the highest-risk assets, and crypto firmly sits at the far end of that risk curve. Consequently, Bitcoin reacts more aggressively to broader global sell-offs.
​2. Macro Uncertainty & Geopolitical Risk:
Heightened tensions surrounding global conflicts, particularly developments between the U.S. and Iran, are breeding significant uncertainty. Anytime geopolitical risk escalates, supply chain risks increase, and markets adopt a defensive posture. This environment is inherently unsupportive for risk assets.
3. Fed Liquidity Expectations:
Markets had been anticipating a more dovish liquidity backdrop from the Federal Reserve. However, expectations regarding future policy leadership and the Fed's stance on liquidity have shifted. If investors now believe future Fed policy will be tighter on liquidity, even if interest rates eventually fall, risk assets will be repriced lower.
4. Economic Data Weakness:
Recent economic indicators, including job market trends, housing demand, and growing credit stress, are collectively pointing towards slowing growth conditions. When recession fears intensify, markets inevitably de-risk. As the most volatile asset class, crypto experiences outsized downside during these transitions.
Structured Selling vs. Capitulation:
An important observation regarding this sell-off is that it does not resemble panic-driven capitulation. Instead, it looks incredibly structured. Consecutive red candles, controlled downside moves, and derivative-driven liquidations strongly suggest that large entities are systematically reducing their exposure, rather than a chaotic retail panic sell-off. When institutional positioning unwinds, it effectively suppresses any attempts at a bounce, as dip buyers will likely wait for a period of stability before re-entering the market.
​Putting It All Together: A Multi-Faceted Downturn
​In summary, Bitcoin's dramatic dump from $126,000 to $60,000 is a complex interplay of several powerful forces:
​Derivatives-driven price discovery: The expanding influence of synthetic markets on Bitcoin's price.
​Synthetic supply exposure: The effective increase in tradable Bitcoin supply through various financial instruments.
​Global risk-off flows: Capital flight from high-risk assets across all markets.
​Liquidity expectation shifts: Changes in anticipation of the Federal Reserve's monetary policy.
​Geopolitical uncertainty: Rising global tensions impacting market sentiment.
​Weak macro data: Economic indicators pointing towards slowing growth and potential recession.
​Institutional positioning unwind: Systematic reduction of exposure by large market players.
#MarketRally #USIranStandoff