The first full day with President Donald Trump back in the White House begun with crypto making a notable leap on Tuesday, buoyed by a resurgence in bullish sentiment following President Donald Trump’s first full day back in the White House. Bitcoin surged over 2%, hitting $107,180 and finding support around $106,200.
In the spotlight was “Official Trump,” a token introduced last week to symbolize the new administration. After a rocky start with a plunge of more than 20%, the token managed to trim its losses to 2.5% within 24 hours. This rebound hints at the market's tentative optimism surrounding Trump's crypto-friendly promises.SEC Announces Their "Crypto Task Force"...
On the regulatory front, the Securities and Exchange Commission took a proactive step by announcing that Acting Chair Mark Uyeda has established a “crypto task force.” This initiative aims to develop a comprehensive and clear regulatory framework for crypto assets, signaling a move towards more structured oversight in the space.
Trump’s return has been met with enthusiasm from crypto investors who view his presidency as a potential catalyst for industry growth. The president has pledged to implement policies that support cryptocurrencies, including a favorable regulatory environment and the creation of a federal Bitcoin reserve.
As the crypto market navigates these developments, traders should keep a close eye on regulatory changes and market sentiment shifts. The intersection of political influence and digital assets continues to shape the future landscape of cryptocurrency investment and innovation.-------------------
Author: Oliver ReddingSeattle Newsdesk / Breaking Crypto News
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