• Bitcoin has shown a modest price increase of 1.27% in the last 24 hours. 
• The cryptocurrency’s daily trading volume has dipped by 11.94% as per CMC data.

The overall crypto market has shown a glimmer of hope after days in the dark consolidation tunnel. While the altcoin sector has not shown much action over the past few weeks, other sectors have been booming. Several ETP issuers are taking measures to introduce altcoin ETFs and the regulatory sector is buzzing with new laws and reforms. 

Meanwhile, the largest cryptocurrency, Bitcoin, has shown a modest price increase of 1.27% in the last 24 hours. Propelled by this movement, BTC briefly tested the $88,000 range after weeks of the $85K consolidation. In the afternoon hours of March 25, the digital asset was trading at the $87.1K level. 

However, as bullish candles sparked, Bitcoin surged to trade at the border between $87K and $88K, after briefly testing and failing the higher range. In the past hour, it has managed to climb to $88.1K level. At the time of writing, BTC was trading at $88,152.17 as per CMC data. 

Zooming out onto its weekly chart, the cryptocurrency’s price consolidation is quite evident. While prices now show a 5.51% increase, a prolonged consolidation between $83K and $85K, can be observed mid-week. From a low of $83,546, Bitcoin has climbed to current trading levels. 

Will the Bitcoin Bulls’ Slow Progress Reach $90K? 

On analyzing its recent price movements, Bitcoin shows a price breakout from a recent horizontal channel pattern. Often, when such a trend occurs, it is expected to witness further upward movements. Secondly, the lack of selling activity by BTC traders as reported by prominent analyst Ali (@ali_charts) is also promising. 

Moreover, Bitcoin’s Moving Average Convergence Divergence (MACD) MACD line stands below the signal line. Although this is an indicator of a bearish trend, the MACD line shows signs of moving towards a crossover. 

Additionally, the Chaikin Money Flow (CMF) indicator value stands at a positive 0.03 as per TradingView data. This indicates a capital influx into Bitcoin, thus suggesting positive investor sentiment thus reiterating a possibility of hitting $90K in the coming days. 

Finally, prominent crypto-based firm GameStop has announced investing in a Bitcoin reserve, which also adds to the positive momentum. Meanwhile, other altcoins such as DOGE have also shown price surges. 

• Paul Atkins and his spouse reported $327 million net worth 2 days before Senate hearing. 
• Atkins is about to appear for a Senate hearing on Thursday for his SEC chair nomination. 

SEC Chair nominee Paul Atkins and his spouse combinedly recorded at least $327 million net worth. Atkins also mentioned $6 million worth of crypto-related investments. In case, Paul Atkins confirms as the SEC chair after Senate hearing tomorrow, he will be the wealthiest SEC chair in the history. 

As per the latest Bloomberg report, Paul Atkins filed a detailed paperwork regarding his investments and net worth with the Office of Government Ethics. The paperwork consisted of 70 pages detailing his investments, assets, and compensation. Among other details, Paul Atkins’ stake in his consulting firm Patomak Global Partners is worth $25 million. 

Paul Atkins to Attend Senate Hearing on Thursday

Paul Atkins is about to attend a hearing before the Senate Banking Commitee lawmakers on Thursday as per earlier announcement. He was under scrutiny for his ties with crypto firms. As Donald Trump nominated Paul Atkins to replace Gary Gensler, lawmakers are examining whether Atkins is fit to lead the SEC. 

Apart from the total network, Paul Atkins also reported his crypto investments. He holds equities in several crypto-related firms such as Anchorage Digital and Securitize. Both of these investments amounted to around $500,000. Furthermore, he also holds between $1M and $5M in Off The Chain Capital crypto fund. 

Crypto-related investments account for only a small portion of Paul Atkins total portfolio. However, this will also be taken into account to finalize whether he is going to lead the US SEC. Furthermore, there are several allegations that Paul Atkins was involved with the FTX. He was an adviser for FTX and Chamber of Digital Commerce. 

Tomorrow’s Senate hearing will bring a final judgement of whether Paul Atkins will be the SEC lead or not. His ties with crypto entities such as the FTX are raising concerns on whether is the right candidate for bring forward the crypto regulation that Trump is aiming for. 

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