Bitcoin Moves Towards $100,000 Again: Market Awaits Trump's Appointments to Key Financial Posts

Sentiment in the cryptocurrency market has improved as it has become clear who is in line to lead the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The president-elect has promised to reverse the Biden administration’s restrictions on digital assets and promote the growth of the industry. Cryptocurrency advocate Paul Atkins has emerged as the leading candidate to replace Gary Gensler as SEC chairman. Meanwhile, most or all of the potential CFTC candidates are likely to be supportive of the crypto market, which has grown by an estimated $1 trillion since Trump won the November 5 U.S. election. Trump’s transition team has also discussed creating the first White House position dedicated to digital asset policy. Wall Street is increasingly willing to engage with the emerging segment. Cryptocurrency proponents see the six-digit figure as validation of the controversial claims that Bitcoin is a modern store of value and a hedge against inflation risks. In the post-Trump election period, about $6.8 billion went into US exchange-traded funds that invest directly in bitcoin. The total assets of twelve ETFs are about $100 billion. Seka7777subscribe