BTC surpasses $100K as Trump nominates Paul Atkins as SEC chairman

bitcoin price rose 7.5% in the last 24 hours to trade at $102,507 as of 11:03 pm EST, with trading volume jumping 49% to $130 billion.

<a target="_blank" href="https://www.coingecko.com/en/coins/bitcoin“>The price of btc broke its all-time high of $99,588, surpassing the $100,000 milestone after recovering from its recent pullback since last week.

This comes as President-elect Donald Trump confirmed on Wednesday that he has nominated Patomak Global Partners CEO Paul Atkins to be the next chairman of the Securities and Exchange Commission (SEC).

The announcement boosted the cryptocurrency market, and Atkins is widely considered pro-crypto.

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”14.068965517241″>

These words can tell you everything you are going to miss.

Remember we told you that Trump is unpredictable and in this volume, until his inauguration, we ride with anticipation.

Look, it just officially selected crypto professional Pauk Atkins to replace Gary as section president

Wait and see how altcoins perform… pic.twitter.com/LkWyEqViEd

—VengieZim (@VengieZim) <a target="_blank" href="https://twitter.com/VengieZim/status/1864525295274901673?ref_src=twsrc%5Etfw”>December 5, 2024

“He believes in the promise of strong, innovative capital markets that respond to investor needs and provide capital to make our economy the best in the world. He also recognizes that digital assets and other innovations are crucial to making America greater than ever,” Trump wrote on Truth Social, while supporting his decision.

bitcoin price on a sustained breakout

bitcoin price analysis on a 4-hour time frame shows significant bullish momentum in recent weeks, followed by consolidation near a key psychological resistance at $96,000.

The price is currently trading at $102,507, marking a strong progressive bullish trend since early October, according to data from <a target="_blank" href="https://www.geckoterminal.com/eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed”>Terminal Gecko.

Furthermore, the 50-day SMA on the 4-hour chart is currently at $95,912.68, acting as short-term support, and is significantly above the 200-hour SMA at $87,825.47. This alignment (a “golden cross”) reflects a strong bullish trend.

Meanwhile, the Relative Strength Index (RSI) is at 73.93, indicating that the asset is in overbought territory. While this means strong buying pressure, it also suggests a possible pullback or consolidation in the near term.

The moving average convergence divergence line (MACD) is at 660.79, above the orange signal line at 571.26, suggesting continued bullish momentum.

However, the histogram is starting to narrow, which could indicate that the current bullish momentum is weakening slightly, leading to consolidation.

bitcoin price prediction

Given the strong uptrend indicated by the SMAs and MACD, bitcoin price is likely to maintain the breakout above the consolidation zone if the buying pressure continues. A continued rise could push bitcoin price higher as bulls target the $113,000 resistance.

However, the overbought RSI suggests that a short-term pullback or sideways move is possible before any further bullish movement. The lower boundary of the consolidation zone, around $93,000, acts as the next support zone if the price falls.

As the price of bitcoin rises, investors are also buying into a new Pepe alternative called Wall Street Pepe (WEPE), which according to Cryptonews, a popular crypto channel with over 13,000 subscribers, could be bitcoin's next big play. degeneration.

Pepe's pre-sale on Wall Street exceeds the $633,000 mark in less than two days

Wall Street Pepe (WEPE) is the meme coin created by a defiant Pepe, tired of groups of whales dominating the cryptocurrency markets.

Determined to level the playing field, he's assembling the WEPE Army, a squad of traders equipped with exclusive insights and alpha calls to help everyone trade like a champ.

Going into pre-sale just 48 hours ago, WEPE has already raised over $633,000, solidifying its place as one of the most prominent meme coins on the market. While Pepe soared more than 130% last month, much of those gains were captured by whales, leaving smaller investors behind.

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Who said money doesn't grow on trees? pic.twitter.com/tRLhkEnEBu

—Wall Street Pepe (@WEPEToken) <a target="_blank" href="https://twitter.com/WEPEToken/status/1864305150610886718?ref_src=twsrc%5Etfw”>December 4, 2024

Additionally, the WEPE token offers a passive income opportunity through its staking feature, delivering a dazzling annual percentage yield (APY) of 846%.

Can buy WEPE Token from official website for $0.000202 using eth, USDT or a bank card.

Buy now before a price increase in about 2 days to secure the best deal.

Buy WEPE bonds.

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