1. Potential Implications for Bitcoin Holders in Australia
2. Bitcoin Miners' Selling Spree
3. Analysts' and Experts' Opinions

Jamie Coutts, chief crypto analyst at Real Vision, has warned Bitcoin holders in Australia about new legislation that may classify them as potential law violators.

Potential Implications for Bitcoin Holders in Australia

Jamie Coutts shared a tweet by journalist Alex James about recent legislation in Australia. Coutts referred to it as 'Orwellian' since it discusses 'serious harm' that can allegedly be caused in various aspects of public life, including a lack of confidence in the banking system. This could 'bring harm' to the Australian economy. 'If you live in Australia and own Bitcoin, you better wake up. This Orwellian legislation is aimed right at you!', tweeted Jamie Coutts.

Bitcoin Miners' Selling Spree

According to a recent tweet by data aggregator Santiment, Bitcoin and Ethereum miners have been on a strong declining trend since the first half of 2024. Santiment analysts say that the next bull market could be approaching once combined supplies of Bitcoin and Ethereum miners start increasing again. Over the past week, Bitcoin's price has increased more than 8%, from $53,490 to $57,790.

Analysts' and Experts' Opinions

Analysts note that following Bitcoin's recent mild rebound, subsequent trends and the combined supplies of Bitcoin and Ethereum can serve as significant signals for investors. Coutts added: 'This Orwellian legislation is aimed directly at Bitcoin holders in Australia, making them feel unsafe'.

New Australian legislative measures could have serious implications for Bitcoin holders, raising concerns among analysts and experts. Meanwhile, the cryptocurrency market remains dynamic, requiring holders and investors to stay attentive to the changing conditions.