Bitcoin price surged 5.5% to $94k

The price of Bitcoin rose 5.5% to $94k in a quick spike today as Paul S. Atkins was sworn into office as the 34th Chairman of the SEC. Following Bitcoin, leading altcoins like ETH, XRP and SOL have also surged nearly10% while Chainlink (LINK), Avalanche (AVAX) and Dogecoin (DOGE) see a pump of over 12% as of latest market data.

While the domestic crypto scene in the U.S. keeps flourishing under Donald Trump’s presidency, the appointment of Paul Atkins as SEC chair marks a turning point for the industry with the crypto market witnessing renewed interest today. This news has caused the crypto market cap to surge 5.89% higher while it nears reclaiming the $3 trillion mark.

At the time of writing, Bitcoin price is trading near $93,531– up 5.61% in the past 24 hours. It started accelerating from $88k levels and surged as high as $94,391 while seeing a 60% increase in daily trading volume.

The push in Bitcoin price has influenced all leading altcoins to skyrocket with remarkable gains with ETH surging as high as $1,816, XRP seeing 8% increase to $2.296 and SOL breaking above $150 with surging over 9% in the past 24 hours. Other top altcoins – including ADA, AVAX, LINK and DOGE spiking over 10% today.

These price hikes have brought back major attention to mid-cap altcoins like UNI, AAVE, ONDO while overall crypto sentiment is turning bullish once again.

On the top gaining list, DEEP token is leading with a mammoth gain of 75% in a single day, followed by IMX’s 38% and SUI’s 25% increase. On the losing side, none of the crypto assets is showing even decent decline but gold-backed stablecoins XAUt and PAXG seeing 3% drop.

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As per CoinMarketCap data, the global crypto market cap today sits at $2.93 trillion – up 5.89%, with a 24 hour trading volume of $139.24 billion.

Also read: Immutable Price Jumps 47% as Co-Founder Hints at Major Deal