The crypto market appears to be bracing for new SEC Commissioner Paul Atkins.
He was rumored to have been chosen, but he was nominated today and is pro-crypto. This helped push bitcoin to $98,250 from $94,800 just hours ago.
Bitcoin 10 minutes
Alternative coins outperformed bitcoin today, including Ethereum which is up 7.5% to its highest level since June.
ETH daily
I think we need to see Bitcoin surpass $100,000 to signal greater market strength and appetite for risk in 2025. If so, it could continue at $120,000 and also signal a return to a hold of intense risk in the capital markets, like we saw in 2021. We are seeing this on the sidelines right now with some meme stocks starting to run, but conditions are starting to come into play. room for a frenzy.
