This week, the cryptocurrency market attempted a downward correction but resumed growth. Currently, the BTC token is trading around 96300.00 (–0.7%), ETH is at 3550.00 ( 3.4%), USDT is around 1.0002 (–0.09%), SOL is at 240.00 (–4.3%), and BNB is at 655.00 (–0.7%). The total market capitalization increased to 3.34T dollars by the end of the week, and BTC’s share in it was 57.1%.

The correction at the beginning of the week was most likely a consequence of investors’ reaction to the promises of US President-elect Donald Trump to introduce a 10% duty on Chinese exports and a 25% duty on goods from Mexico and Canada. Such specification of the election program increased experts’ concerns about the start of global trade wars and a slowdown in the pace of easing the monetary policy of the US Fed, causing a weakening of alternative assets to the dollar, including digital ones. Thus, in the first two sessions, investments in Bitcoin ETF decreased by 558.1M. Currently, the quotes of the main tokens are restoring lost positions with the support of long-term fundamental factors. After the official announcement of the head of the US Securities and Exchange Commission (SEC), Gary Gensler, about his imminent resignation, the market’s confidence in the authorities’ transition to a more loyal position regarding the cryptocurrency sector has increased. Among the new candidates for his post are, among others, a member of the regulator’s board, Mark Ueda, and former head of the US Commodity Futures Trading Commission (CFTC), Christopher Giancarlo. Most analysts are confident that the new official will treat the industry more softly than Gensler, who preferred to conduct a repressive campaign against the sector. Yesterday, Giancarlo shared the plans of the new American administration regarding the development of the cryptocurrency sector. It is planned to create a strategic reserve of BTC, establish a state council for the industry, provide citizens with a guaranteed opportunity to have digital wallets, exemption from capital gains tax on income from American cryptocurrencies, remove restrictions on the access of industry startups to banking services, develop new CFTC and SEC standards and legislation on stablecoins. The implementation of all these measures will make the interaction between the community and the state more transparent and allow digital companies to develop actively. Investors are also encouraged by unconfirmed information that Trump may transfer control over cryptocurrencies from the SEC to the CFTC jurisdiction, which may mean recognizing their status as goods, not securities.

Investors remain interested in purchasing digital assets, which supports further market growth, although experts do not rule out the possibility of several short-term corrections. It is worth noting that the index of open interest in Bitcoin futures is steadily above 60.0B dollars, and the volume of stablecoins on exchanges through which fiat currencies are converted into digital ones has amounted to about 13.0B dollars over the past 30 days, continuing to increase. Next week, most crypto assets may show positive dynamics or begin to consolidate.