Bitcoin rises above $98,000 as SEC Chair Gary Gensler announces resignation

Bitcoin has surged back above $98,000 following the announcement that SEC Chair Gary Gensler will resign on January 20. This increase comes as investors anticipate pro-crypto policies from the incoming Trump administration. Since the November 5 presidential election, Bitcoin has risen about 40%. Reports suggest Trump's team is considering a new role for crypto policy, which has further boosted investor confidence. Additionally, Bitcoin spot ETFs have seen significant inflows, with BlackRock’s ETF assets increasing by $13 billion after the election. This has contributed to heightened trading activity in the cryptocurrency market.