Bitcoin Struggles Near $80K Resistance as Germany Plans 25% Crypto Tax and Block Seeks Bank Charter

Bitcoin traded in a volatile range around $78,500 to $79,000 on September 9, repeatedly hitting a liquidity wall near $80,000 that has so far blocked a sustained recovery. The token slipped as low as $77,600 before rebounding, with Glassnode flagging a 30% drop in spot momentum. Bearish divergence in short-term indicators and liquidity clusters on both sides of the market raised the risk of a sharper move, even as a daily golden cross confirmed this week signaled a potential bear-market low. A surging Japanese yen added pressure on global risk assets, with traders watching the Bank of Japan's September 17-18 meeting closely, while recent ETF inflows provided some support.

Germany's Finance Ministry under Lars Klingbeil proposed ending the country's longstanding one-year tax-free exemption on crypto gains, replacing it with a 25% flat tax plus the solidarity surcharge on holdings acquired after December 31, 2026. Existing positions would remain grandfathered under current rules. The reform, still requiring parliamentary approval, is projected to raise 160 million euros in 2028, rising to 350 million euros by 2031, with automatic collection by platforms planned for 2028. The proposal has reignited debate over Germany's competitiveness as a crypto hub.

In a separate regulatory development, Jack Dorsey's Block applied for an OCC charter to establish Builders Bank and Trust, a federally supervised institution focused on Bitcoin custody and stablecoin settlement. The proposed bank would not accept deposits or make loans, and Block framed the national charter as a way to replace a fragmented patchwork of state-level licenses. Block processed approximately 10.7 billion dollars in Bitcoin volume, underscoring the scale of custody activity the structure would govern.

Binance founder Changpeng Zhao said he believes Bitcoin could surpass gold in market capitalization during the next bull cycle, though he acknowledged current valuations temper the timeline. Meanwhile, Wintermute research highlighted a structural shift in Bitcoin market behavior, with drawdown depths shrinking across successive cycles and recovery windows tightening, a pattern the firm said reflects growing institutional participation.