BTC falls below the $99000 mark

HTX-BTC perpetual contract is now reported at $99061. According to market contract position analysis, the main force lacks confidence in the future market, and the price may decline. Please hold positions reasonably and control risks

OKX-CRV is currently priced at $0.6346, with a drop of 15.48% over 24 hours. 24-hour transaction volume of 400 million US dollars, up 15.48%, for reference only

Odaily Planet Daily News: According to Indian Finance Minister Nirmala Sitharaman's 2025 federal budget announcement, cryptocurrencies will be included in Section 158B of the Income Tax Act for reporting undisclosed income. This amendment allows for collective assessment of unreported cryptocurrency earnings, giving them the same tax treatment as traditional assets such as currency, jewelry, and gold bars. According to the new amendment, cryptocurrency will fall under the definition of Virtual Digital Assets (VDA), which stipulates that: According to the existing definition of virtual digital assets, encrypted assets have been defined in section 2 (47A) of the Act [...] According to section 285BAA of the Act, reporting entities will be required to provide information on encrypted assets As a signal of concern for cryptocurrency holders, Indian authorities may impose tax fines of up to 70% on previously undisclosed cryptocurrency profits. According to the document, this penalty may apply to undisclosed cryptocurrency earnings for up to 48 months after the relevant tax assessment year. The document states: "70% of the total amount of tax payable and interest on additional income disclosed in the updated income tax return [ITR]

CryptoQuant CEO Ki Young Ju posted on social media that although he is not a Memecoin enthusiast, he believes it has potential value. He compared the crypto exchange to the channel for Internet capital to flow into the spiritual energy of society. However, currently Memecoin mainly has a negative impact, leading to the criticism of industry leaders such as crypto exchanges. He further pointed out that the current Memecoin phenomenon is similar to primitive collective consciousness, and these communities operate in a way similar to a shared belief system, which may evolve from a "shamanic movement" to a more structured belief system. Ki Young Ju believes that harmful Meme communities should be rejected, while Meme cultures that promote positive spiritual energy can receive support. Although the value of Memecoin is limited at present, in the long run, Meme tokens with practical applications and mature systems may emerge. He envisions that religious organizations, charities and non-governmental organizations (NGOs) may issue memecoins with social value in the future to provide new social and economic models for Internet communities.

The key events to focus on next week are as follows: On February 5th, XDC worth $87.48 million was unlocked, accounting for 2.398% of the total supply; On February 6th, a US court will try Do Kwon, the founder of Terraform Labs; On February 6th, the number of initial unemployment claims in the United States for the week ending February 1st; On February 7th, the United States released non farm payroll data for January; On February 8th, the Arweave computing network AO mainnet was officially launched; To learn more about forward-looking events, please visit the "PC News Event Calendar" module of AICoin.