Bitcoin Steadies at $105K as Trump’s Pro-Crypto SEC and CFTC Picks Boost Market Confidence
Bitcoin has steadied around the $105,000 mark, with market analysts crediting President Donald Trump’s recent regulatory appointments for easing the volatility seen earlier in the week. The selection of pro-crypto leaders at the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) has bolstered investor confidence and renewed optimism in the digital asset space.
Pro-Crypto Appointments Drive Optimism
President Trump’s appointment of Mark Uyeda as interim chair of the SEC and Caroline Pham as acting chair of the CFTC has sent a strong signal to the crypto community. Both officials have been outspoken advocates for clearer, innovation-friendly regulatory policies. Uyeda, a senior SEC official, has previously criticized the agency’s enforcement-driven approach under former Chair Gary Gensler, calling it “poorly conceived” and emphasizing the need for transparency in crypto regulation.
"Though the inaugural speech made no mention of bitcoin or crypto, some investors who quickly dumped their coins are perhaps reconsidering following the appointment of pro-crypto Mark Uyeda and Caroline Pham," said Agne Linge, Head of Growth at WeFi. "If the US SEC can release new rules to permit Web3 innovators to create new markets with blockchain’s potential, the upside is high for all stakeholders involved."
Regulatory Initiatives Signal a New Era
Uyeda’s leadership is expected to steer the SEC toward a more collaborative approach, with plans for a task force dedicated to developing a comprehensive regulatory framework for digital assets. Analysts at QCP Capital view these developments as transformative:
“The U.S. Securities and Exchange Commission’s new leadership has introduced a task force dedicated to developing a regulatory framework for crypto assets. This initiative promises to be a game-changer for the digital asset space.”
Meanwhile, Caroline Pham has already made waves as acting chair of the CFTC. Pham has been a long-time proponent of innovation in the financial sector, advocating for initiatives like a U.S. regulatory sandbox and proposing pilot programs to support digital asset growth. Her leadership is expected to enhance market governance and foster responsible development in the crypto space.
Market Stability Amid Dollar Weakness
Bitcoin’s stabilization coincides with a weakening U.S. Dollar Index (DXY), which fell from 109.405 to 107.788 over the past 24 hours. A softer dollar often pushes investors toward alternative assets like bitcoin and equities, as they seek to preserve purchasing power. Analysts suggest that President Trump’s recent tariff-related announcements may have contributed to the decline in the DXY, indirectly supporting risk assets.