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Trump also nominated pro-crypto Paul Atkins to replace Gensler as SEC chair and cited Atkins’ role as co-chairman of the Digital Chamber’s Token Alliance as one of the reasons for the nomination.
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President-elect Donald Trump is reportedly considering handing the CFTC oversight over crypto during his upcoming term, which would also classify most crypto projects as commodities if they meet certain criteria.
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Nestled within the FIT21 legislation was a provision to regulate digital assets under either the SEC or the Commodity Futures Trading Commission (CFTC), depending on the specific digital asset’s level of decentralization.
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In May, Congress passed the Financial Innovation and Technology for the 21st Century Act (FIT21). The market structure bill outlined a comprehensive regulatory framework for digital assets. However, the bill was halted in the Senate and was never passed into law.
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Trump also nominated pro-crypto Paul Atkins to replace Gensler as SEC chair and cited Atkins’ role as co-chairman of the Digital Chamber’s Token Alliance as one of the reasons for the nomination.
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President-elect Donald Trump is reportedly considering handing the CFTC oversight over crypto during his upcoming term, which would also classify most crypto projects as commodities if they meet certain criteria.
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Nestled within the FIT21 legislation was a provision to regulate digital assets under either the SEC or the Commodity Futures Trading Commission (CFTC), depending on the specific digital asset’s level of decentralization.
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In May, Congress passed the Financial Innovation and Technology for the 21st Century Act (FIT21). The market structure bill outlined a comprehensive regulatory framework for digital assets. However, the bill was halted in the Senate and was never passed into law.
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Bitcoin quietly just had its highest daily close ever,” Charles Edwards, founder of quantitative Bitcoin and digital asset fund Capriole Investments, wrote in an X post on Dec. 12.
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Commenting, market observers noted continued market stability accompanying the latest trip to $100,000 and beyond.
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“The crucial level is still defined on $BTC,” trader, analyst and entrepreneur Michaël van de Poppe, summarized in his latest analysis on X.
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On Bitstamp, this matched the close from Dec. 8 to become the highest ever recorded, with bulls pulling away from local lows of $94,000 seen earlier in the week.
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Data from Cointelegraph Markets Pro and TradingView confirmed BTC/USD sealing its latest daily candle at around $101,200.
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Data from Trading Economics reveals that consumer prices in Argentina rose by 193% year-on-year in October 2024, marking the sixth consecutive month of disinflation and the lowest increase of the year, down from 209% in September.
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Milei’s economic policies have sparked significant debate across the country. While some praise his measures for reducing inflation and stabilizing the peso, others express concern about their social impact on the most vulnerable.
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Argentina has been fighting hyperinflation in recent years, which boosted the popularity and adoption of digital assets.
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Edwards referred to the cleansing of leveraged positions that resulted from snap market volatility this week and last.
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Shorts felt the heat on the rebound, with combined 24-hour crypto liquidations at $270 million at the time of writing, per data from monitoring resource CoinGlass.
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Thus, a retest of the 50-day EMA and a drop to $0.34 and $0.32 can occur before its next bullish leg up.
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The important observation is that RSI eased back to 50 during the same time (as illustrated above) as the 50-day EMA was tested. Other similar confluences include the daily bearish engulfing pattern and ascending trendline breakout below, underlying the strong similarity of the past and present setup.
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