Former US Securities and Exchange Commission (SEC) member Paul Atkins is scheduled to appear before lawmakers in the Senate Banking Committee on March 27 as part of the Trump administration’s efforts to get the President’s picks into high-level government positions.

Since Donald Trump took office on Jan. 20, the SEC, under the leadership of acting chair Mark Uyeda, has dropped several investigations and enforcement actions against major crypto firms, many of which had been in court for months or years. Many analysts see the SEC’s recent actions as the administration acting on its campaign promises to the crypto industry, some of whom donated directly to the then-presidential candidate or his inauguration fund after the Nov. 5 election.

The commission’s actions — which include claiming memecoins aren’t securities —  also stand in stark contrast to its position under former chair Gary Gensler, leading many to speculate that the SEC under Trump will lead to a booming US crypto industry essentially free of regulatory scrutiny.

Atkins, whom Trump picked in December 2024 and officially nominated after taking office, received support from industry players at Coinbase and Ripple, both of which had ongoing enforcement actions brought by the SEC. The cases have since been dropped.

Given the SEC’s seeming about-face on crypto enforcement and Trump’s potential conflicts of interest with the industry — with ties to the crypto firm World Liberty Financial and the launch of his own memecoin — some lawmakers are likely to question Atkins’ views on digital assets at the confirmation hearing.

If confirmed by the Senate, Atkins could return to a soon-to-be entirely Republican-controlled SEC, with Democratic Commissioner Caroline Crenshaw expected to leave by 2026.

It’s unclear if Atkins will have the votes to pass a confirmation hearing in the banking committee or a full floor vote in the Senate. Republicans hold a 53-seat majority in the chamber with only 51 votes required to confirm a nominee, and — with the exception of former Representative Matt Gaetz for US Attorney General — have not suggested that they intend to oppose any of Trump’s picks for crucial government positions for any reason.

Democratic opposition to Atkins’ nomination

Massachusetts Senator Elizabeth Warren, the top Democrat on the banking committee who has often equated crypto with drug trafficking and illicit actions, said in a March 23 letter to Atkins that she had concerns about his potential role at the SEC after his consulting firm, Patomak Global Partners, was an adviser to defunct crypto exchange FTX. He was also an adviser to the advocacy group Chamber of Digital Commerce. 

“Your deep involvement with FTX and other high-paying crypto clients raises questions about your approach to crypto regulation — and concerns about the extent of your knowledge of FTX’s illegal activities,” said Sen. Warren, adding:

“Your financial ties to the industries you will soon regulate raise serious concerns about your ability to avoid conflicts of interest as a regulator.”

Sen. Warren suggested that some members of the Senate would likely question Trump’s pick on the SEC recently dropping enforcement cases against crypto firms, reports that the US President’s family had held talks with Binance about a stake in the company as well as a pardon for former CEO Changpeng Zhao, how he intends to apply securities laws to digital assets if confirmed, and the commission’s recent opinion that memecoins were not securities.

She hinted that Atkins may have also communicated with Republican SEC Commissioners Uyeda and Hester Peirce after his nomination.

Related: SEC is waiting for a chair before setting crypto agenda — Hester Peirce

Ahead of his hearing, Atkins has already met with Republican lawmakers on the committee, including Wyoming Senator Cynthia Lummis. Cointelegraph contacted Sen. Lummis’ office for comment on the SEC commissioner’s nomination but did not receive a response at the time of publication.

If his nomination moves through the Banking Committee and the Senate, Atkins would likely be confirmed to a term ending in June 2031, taking over as chair from Uyeda. In addition to the commission dropping investigations and enforcement actions, the SEC acting chair has proposed abandoning rules requiring crypto firms to register with the agency.

Magazine: Ripple says SEC lawsuit ‘over,’ Trump at DAS, and more: Hodler’s Digest, March 16 – 22

Bitcoin (BTC) rose 4.25% last week to close above $86,000, and the bulls extended the recovery above $88,700 on March 24. 10x Research founder Markus Thielen said in a March 23 report that Bitcoin’s reversal indicators had turned positive, suggesting a “renewed uptrend.”

Buyers seem to be returning to the markets. According to SoSoValue data, US Spot Bitcoin exchange-traded funds (ETFs) witnessed net inflows of $744.4 million last week after recording five consecutive weeks of outflows. However, Ether ETFs could not replicate a similar performance as they witnessed a fourth successive week of net outflows.

Daily cryptocurrency market performance. Source: Coin360

Analysts are divided about the near-term price action for Bitcoin. Select analysts believe Bitcoin could run into significant resistance near $90,000, starting a pullback toward $80,000. In contrast, BitMEX co-founder and chief investment officer of Maelstrom, Arthur Hayes, said in a post on X that Bitcoin will rally to $110,000 before it drops to $76,500.

Could Bitcoin bulls maintain the momentum and push the price above $90,000? Will the altcoins follow Bitcoin higher? Let’s analyze the charts to find out.

S&P 500 Index price analysis

The S&P 500 Index (SPX) has risen to the 20-day exponential moving average (5,742), where the bears are expected to step in. 

SPX daily chart. Source: Cointelegraph/TradingView

If the price turns down from the 20-day EMA, the bears will attempt to drag the index below 5,670. If they succeed, the index may retest the critical support zone between 5,600 and 5,500.

On the other hand, a close above the 20-day EMA will be the first indication that the correction may be ending. The index will then try to rise toward the 50-day simple moving average (5,913).

US Dollar Index price analysis

The US Dollar Index (DXY) rebounded off the 103.37 level on March 19, indicating that the bulls are trying to form a floor.

DXY daily chart. Source: Cointelegraph/TradingView

The index could reach the 20-day EMA (104.59), which is an important level to watch out for. If the index turns down sharply from the 20-day EMA, the bears will again try to sink the price below 103.37. If they can pull it off, the index may collapse to 102 and eventually to 101.

Contrarily, a break and close above the 20-day EMA suggests the bears are losing their grip. The index could climb to the breakdown level of 105.42, which is likely to act as a formidable barrier.

Bitcoin price analysis

Bitcoin broke above the 20-day EMA ($85,572) on March 23, suggesting the start of a strong recovery.

BTC/USDT daily chart. Source: Cointelegraph/TradingView

The 20-day EMA is flattening out, and the RSI has risen into positive territory, signaling a minor advantage to the bulls. The relief rally is expected to face stiff resistance at the 50-day SMA ($90,290). If the price turns down from the 50-day SMA but finds support at the 20-day EMA, it will indicate a positive sentiment. That increases the possibility of a rally to $95,000 and then to $100,000.

Conversely, if the price turns down from the 50-day SMA and breaks below the 20-day EMA, it will suggest that the bears remain active at higher levels. A drop below $83,000 could sink the BTC/USDT pair to $80,000.

Ether price analysis

Ether (ETH) bulls are again attempting to drive the price above the 20-day EMA ($2,057) and the breakdown level of $2,111.

ETH/USDT daily chart. Source: Cointelegraph/TradingView

If they manage to do that, it will signal that the markets have rejected the breakdown below $2,111. The ETH/USDT pair could rally to the 50-day SMA ($2,356) and subsequently to $2,550.

Time is running out of the bears. If they want to retain the advantage, they will have to defend the $2,111 level and swiftly pull the price below $1,750. That may resume the downtrend toward the next support at $1,550.

XRP price analysis

XRP (XRP) turned up from the 20-day EMA ($2.38) on March 23, signaling that the bulls are using the dips to buy.

XRP/USDT daily chart. Source: Cointelegraph/TradingView

The bulls will try to push the price above $2.59. If they manage to do that, the XRP/USDT pair could climb to the resistance line, where sellers are expected to mount a strong defense. 

If the price turns down from the resistance line but rebounds off the 20-day EMA, it will indicate a positive sentiment. That improves the prospects of a break above the resistance line. The pair may then rally to $3.

Sellers will have to tug the price below $2.20 to seize control. That could clear the path for a retest of the vital support at $2.

BNB price analysis

BNB (BNB) has bounced off the moving averages, indicating a change in sentiment from selling on rallies to buying on dips.

BNB/USDT daily chart. Source: Cointelegraph/TradingView

If the price rises and breaks above $644, it will indicate the resumption of the recovery. The BNB/USDT pair could ascend to $686 and above it to the crucial resistance at $745. 

The 20-day EMA ($613) is the strong support to watch out for on the downside. A break and close below the 20-day EMA could weaken the bullish momentum. The pair may slide to the 38.2% Fibonacci retracement level of $591 and then to the 50% retracement level of $575.

Solana price analysis

Solana (SOL) broke above the 20-day EMA ($135) on March 24, signaling that the bulls are attempting a comeback.

SOL/USDT daily chart. Source: Cointelegraph/TradingView

If the price maintains above the 20-day EMA, the SOL/USDT pair could rise to the 50-day SMA ($158). Sellers will try to stall the rally at the 50-day SMA, but if the bulls overcome the obstacle, the pair may surge toward $180. That will bring the large $110 to $260 range into play.

Contrarily, if the price turns down from the current level or the 50-day SMA, it will suggest that the bears remain sellers on rallies. The bears will have to yank the price below the $120 to $110 support zone to start the next leg of the downtrend. 

Related: How long will Bitcoin’s price consolidation last?

Dogecoin price analysis

Dogecoin (DOGE) has risen above the 20-day EMA ($0.18), indicating that the bulls have kept up the pressure.

DOGE/USDT daily chart. Source: Cointelegraph/TradingView

If the price closes above the 20-day EMA, the DOGE/USDT pair could climb to the 50-day SMA ($0.21) and later to $0.24. Sellers are expected to defend the level, but if the bulls prevail, the pair could soar to $0.29.

Contrarily, if the price turns down from the 20-day EMA and breaks below $0.16, it will signal that bears remain active at higher levels. The pair may then slump to the critical support at $0.14.

Cardano price analysis

Cardano (ADA) has been trading between the moving averages and the uptrend line for the past few days.

ADA/USDT daily chart. Source: Cointelegraph/TradingView

The failure of the bears to sink the price to the uptrend line suggests a lack of selling at lower levels. Buyers will try to strengthen their position by pushing the price above the moving averages. If they do that, the ADA/USDT pair could rise to $0.84 and later to $1.02.

This positive view will be invalidated in the near term if the price turns down from the moving averages and breaks below the uptrend line. That could sink the pair to $0.58 and eventually to $0.50.

Chainlink price analysis

Chainlink (LINK) has broken out of the 20-day EMA ($14.60) on March 24, indicating that the downtrend could be ending.

LINK/USDT daily chart. Source: Cointelegraph/TradingView

The LINK/USDT pair could rise to the 50-day SMA ($16.34), which could again act as a stiff resistance. If the price turns down from the 50-day SMA, the pair is likely to find support at the 20-day EMA. If the price rebounds off the 20-day EMA, the likelihood of a rally to $19.25 increases.

If bears want to prevent the upside, they will have to swiftly pull the price below $13.82. That may sink the pair to the channel’s support line near $12.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin (BTC) neared $90,000 at the March 24 Wall Street open as analysis warned of “conflicting signs and signals.”

BTC/USD 1-hour chart. Source: Cointelegraph/TradingView

BTC price daily gains near 3% in risk-asset relief

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $88,772 on Bitstamp — its highest levels since March 7.

Bitcoin followed stocks by opening the week higher after almost a month of sell-side pressure. The S&P 500 and Nasdaq Composite index were up 1.6% and 2%, respectively, at the time of writing.

Commenting, trading resource The Kobeissi Letter explained the upside as a positive reaction to news that the US government was easing the severity of new trade tariffs set to become effective on April 2.

It quoted sources reporting that “sector-specific tariffs” would emerge instead of blanket rules.

“The S&P 500 is now up +75 points on the news,” it added.

S&P 500 4-hour chart. Source: Cointelegraph/TradingView

Crypto market momentum had already gained thanks to rumors of the US potentially using gains on its gold reserves to purchase BTC.

“If we actually realize the gains on [these holdings], that would be a budget-neutral way to acquire more Bitcoin,” Bo Hines, executive director of the President’s Council of Advisers on Digital Assets, said in an interview with the Crypto in America podcast last week.

In his latest market analysis on March 24, Keith Alan, co-founder of trading resource Material Indicators, suggested that the news had not fallen on deaf ears.

Despite the relatively modest BTC price uptick, he wrote in an X thread, “the announcement that the administration was considering selling Gold Reserves to buy Bitcoin certainly gave speculators some hopium.”

“With gold in ATH territory, and BTC in a correction, this would be an opportune time to take some profit on Gold and buy Bitcoin,” he added.

XAU/USD 1-day chart. Source: Cointelegraph/TradingView

BTC needs key support reclaim to avoid new lows

Continuing, Alan laid out two key prerequisites for sustained BTC price upside.

Related: RSI breaks 4-month downtrend: 5 things to know in Bitcoin this week

The 21-day simple moving average (SMA), currently at $84,674, as well as the 2025 yearly open at around $93,300, must both be reclaimed as support.

BTC/USD 1-day chart with 21SMA. Source: Cointelegraph/TradingView

“With conflicting signs and signals, how can we tell if Bitcoin is returning to a path to ATH territory or if this is a developing bull trap? The answer is knowing what your validation/invalidation levels are,” he explained.

The yearly open, in particular, would be crucial, with Alan arguing that until it is reclaimed, “there is an increased likelihood that price will retest the lows.” 

“If/when that happens, I’ll be buying those dips when buying resumes,” he concluded.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.