Crypto Week at a Glance: Global crypto sentiment shifts with rising Bitcoin value
Bitcoin price action, this week has given some refreshing developments that could potentially change the course of the crypto market. From Trump’s aggressive appointment plans to appoint pro-crypto regulatory leaders to nations like China, Brazil, Morocco, and Hong Kong taking a more bullish stance on digital assets, here’s what happened in crypto over the week.
Trump’s Plans for the Regulators:
News of the US President-elect Donald Trump considering Paul Atkins as the lead pick to head the SEC during the Trump 2.0 administration has lifted the spirits of the market. Additionally, reports of ex-CFTC Chair Chris Giancarlo in consideration as the first 'Crypto Czar' to oversee the crypto policies from the White House have also added to the positivity. With a veteran such as Atkins, known for his pro-innovation stance and crypto expertise, the crypto community is convinced that his appointment could bring a wave of positive reforms helping achieve Trump’s vision of setting up a Strategic Bitcoin reserve.
Giancarlo's role in launching Bitcoin futures during his CFTC tenure made him a key advocate for responsible crypto adoption. The combination of Atkins and Giancarlo is the best thing the crypto community could ask for – helping in the bounce back of Bitcoin over the week and leading to a faster and healthier adoption of crypto in the coming months.
