XRP surges on Gary Gensler's SEC exit as Bitcoin marches toward $100,000

THERE'S a renewed pulse in the crypto markets today, with XRP leading the charge, up more than 25% in the last 24 hours.

Bitcoin has added another 2%, flirting with the mythical $100,000 mark – it’s currently trading $98,500. Ethereum has also come back to life, posting an 8% gain overnight.

Most cryptocurrencies are in the green, with only a handful of exceptions. The Fear and Greed Index has climbed to 88, signalling 'Extreme Greed' in the market. Traders are watching closely as speculation builds around what happens next: will Bitcoin break past $100k, or will we see a pullback?

Adding to the optimism, reports from Washington confirm that SEC Chair Gary Gensler will step down in January as President Trump assumes office.

The expected pro-crypto policies under Trump’s administration are fuelling bullish sentiment, with many wondering how much higher this rally could climb. Stay tuned. This week is shaping up to be one for the history books.

In the Markets

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Total crypto market cap

$3.3 trillion (+3.67%)

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What Bitcoin did yesterday

Daily high $99,261 |  Daily low $$95,706

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Bitcoin market capitalisation

$1.96 trillion (59.36% of market)

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Bitcoin 24-hour trading volume

$94.8 billion (+5.14%)

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SP500

+0.5

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Fear and Greed Index

Extreme Greed

‍Source: Coinmarketcap

The Fear and Greed Index measures volatility, market momentum/ volume, social media, surveys, dominance, and Google search trends to gauge market sentiment.

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Bitcoin Relative Strength Index (RSI)

70.15

Values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience a correction in price, while 30 or below indicates an oversold or undervalued condition.

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Post Script…

Cautionary Notes

It’s definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.

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