The Bitcoin price has surged by 1.5% in the past day, reaching $96,900. This increase comes after the announcement of Paul Atkins, a known cryptocurrency supporter, as the new Chairman of the SEC by President-elect Donald Trump.
Bitcoin's price movement has formed a 'symmetrical triangle' pattern, a technical indicator that often signals a forthcoming breakout. Analysts and investors are speculating about the possibility of Bitcoin reaching the significant $100,000 mark.
This development underscores the potential impact regulatory leadership can have on cryptocurrency markets, as pro-crypto figures in influential positions can boost market confidence and investor optimism.
