Bitcoin price: Should you leave Australia to avoid paying 47% tax on crypto advances?
Single crypto traders, the "nuclear option" of leaving the country to avoid giving close to half their advances to the government will look increasingly attractive.Many of the world's top crypto hubs — Singapore, Portugal, Malta, UAE and Hong Kong — offer 0% capital advances taxes…
In this article
In the latest Bitcoin price update, Single crypto traders, the "nuclear option" of leaving the country to avoid giving close to half their advances to the government will look increasingly attractive.Many of the world's top crypto hubs — Singapore, Portugal, Malta, UAE and Hong Kong — offer 0% capital advances taxes on long-term crypto advances in an attempt to attract wealthy traders for upwardly mobile, according to Cointelegraph. If you've got a lot of advances or profits you're sitting on, they'll catch you when you leave," states Adrian Forza, director of Crypto Tax Australia.
What happened: Bitcoin price
I do miss my no capital advances tax," she states. Instead, he trades and leaves crypto via a firm to benefit from the 25% firm tax rate. "The company structure is good if you're wanting to cap the capital gains tax at the company tax rate," he states, but notes there's a big catch: when you take funds out of the firm, you need to pay the difference between the 25% firm tax rate and your personal tax rate.
Why Bitcoin price matters for traders
Crypto markets trade around the clock and react quickly to regulation, ETF flows, liquidity conditions and broader risk sentiment. Moves in Bitcoin often set the tone for the rest of the digital-asset market.
Changes in interest-rate expectations and institutional flows have become major drivers of crypto prices, linking them more closely to traditional markets.
Market reaction and data
Crypto prices at the time of writing, from Binance spot data (2026-11-10 00:08 UTC):
| Asset | Last price (USDT) | 24h change | 24h high | 24h low |
|---|---|---|---|---|
| Bitcoin (BTC) | 75,413.72 | 1.01% | 75,599.22 | 73,750.00 |
| Ethereum (ETH) | 2,135.44 | 0.32% | 2,160.50 | 2,083.10 |
| Solana (SOL) | 86.79 | 0.21% | 88.46 | 85.14 |
On the currency side, the latest ECB daily reference rates (2026-11-09) show USD/CAD 1.4103. These are reference fixes, not live quotes.
What to watch next for Bitcoin price
Watch for ETF flow data, regulatory news, large on-chain movements and shifts in overall risk appetite in stock markets.
Follow every update in our Top 10 Crypto News Today, read Bitcoin price: Avalanche’s AVAX leads crypto increases following NYSE tokenization agreement or see all of today's top market news.
FAQ
What is the latest Bitcoin price news?
Single crypto traders, the "nuclear option" of leaving the country to avoid giving close to half their advances to the government will look increasingly attractive.Many of the world's top crypto hubs.
What moves the price of Bitcoin?
Bitcoin reacts to institutional and ETF demand, regulation, liquidity and interest-rate expectations, as well as general risk sentiment in financial markets.
Where does this information come from?
This report is based on coverage from Cointelegraph, checked against market data where available. It is a summary for information only and not investment advice.
Risk warning: This article is for information only and is not investment advice. Trading forex, CFDs, stocks and crypto carries a high risk of losing money. Prices move fast – check live quotes before you trade.
