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Take a look at what happened in the world of crypto by reading U.Today's top three news stories.
Gary Genler, the chair of U.S. Securities and Exchange Commission, has addressed his X followers with a thread, announcing that he will be stepping down from his position in the agency on Jan. 20, 2025. In his thread, Gensler wrote that the SEC is a "remarkable" agency whose "mission-driven" staff is focused on protecting investors. He expressed his honor in serving alongside these "true public servants" in order to ensure that capital markets remain "the best in the world." Previously, U.Today reported that the leading candidate to succeed Gensler is currently Dan Gallagher, chief legal officer at Robinhood. However, there are other contenders as well. Gensler's term was notable for his assertive stance on cryptocurrency regulation. The next SEC boss is widely expected to adopt a more crypto-friendly approach.
Samson Mow, vocal Bitcoin advocate and the CEO at JAN3, issued a warning as Bitcoin is inching closer to the $100,000 mark. Recently, the flagship crypto hit a record high of $99,000, prompting Mow to take to X platform and warn his followers that the chances of buying BTC below the "$0.10 million" level are diminishing. "You can still buy #Bitcoin for less than $0.10M," wrote the CEO. Mow attributes his bullish outlook to two factors: a supply shock resulting from the Bitcoin halving that took place in April and an impending demand shock driven by institutional investments through spot Bitcoin ETFs. According to Mow's prediction, Bitcoin could reach $1 million within the next year, especially as momentum builds following its approach to $100,000.
According to crypto analyst Ali Martinez, Shiba Inu is currently forming a bull flag pattern, indicating the potential for upward movement to $0.000037 if it can successfully break through the resistance at $0.000025. A bull flag often signals a continuation of upward price momentum after a surge, leading to a consolidation phase that resembles a flag on the price charts. Yesterday, SHIB's price increased by almost 3.5%, demonstrating a recovery from the recent volatility of its price action. Even though SHIB reached a high of $0.00003 earlier this month, it has since experienced a drop of up to 25% and 18% to the current levels; however, the total price increase this month alone is 38.6%. The analyst emphasizes that clearing the $0.000025 resistance is crucial for the bull flag to materialize; otherwise, the pattern may fail to play out as anticipated.