- Paul Atkins’ SEC appointment fuels optimism for clearer crypto regulation under Trump.
- Crypto market surges as Bitcoin nears $94K, SOL and SUI lead altcoin rally.
Paul Atkins has officially stepped into his role as the 34th chairman of the U.S. Securities and Exchange Commission on the 21st of April.
Paul Atkins — the new SEC Chair
Though it took two weeks, starting from 9th April, to take effect, the announcement signals a potential shift in the crypto regulatory landscape.
A known advocate for regulatory clarity, Atkins has previously pledged to pursue a more “rational” and “coherent” approach to digital asset oversight.
He had said,
“A top priority of my chairmanship will be to work with my fellow Commissioners and Congress to provide a firm regulatory foundation for digital assets through a rational, coherent, and principled approach.”
Backed by the Trump administration, his appointment signals a possible departure from the stricter stance taken by his predecessor, Gary Gensler, raising hopes among crypto proponents for a more balanced SEC under his leadership.
Coinciding with such a massive development, President Donald Trump has once again set the tone for market movements, this time by taking fresh aim at Federal Reserve Chair Jerome Powell.
Alongside the official swearing-in of Paul Atkins as the new SEC Chair, these developments appear to have sparked a powerful rally in the crypto market.
Impact on the crypto market
According to CoinMarketCap, the global crypto market cap surged by 6.85% in just 24 hours, now standing at $2.94 trillion.
Bitcoin [BTC], which had previously struggled to break above the $85,000 mark amid Trump’s tariff-driven economic tensions, is now trading at $93,703.04 — up 6.17% in a single day.
This surge echoes market behavior from Trump’s initial election as the 47th U.S. President, when Bitcoin briefly soared past $100,000 to hit a record $109,000.
With Atkins, a known advocate for regulatory clarity, now at the helm of the SEC, the market appears to be responding with renewed optimism.
Together, these signals suggest that investors are once again betting big on crypto under a Trump-led administration.
Beyond Bitcoin’s impressive rebound, the broader altcoin market is showcasing strong bullish momentum, with Solana [SOL] and Sui [SUI] emerging as standout performers.
Over the past 24 hours, SOL surged by 15.99%, trading at $150.69, while SUI posted an even steeper gain of 30.13%, reaching $2.92.
Weekly gains across most major altcoins have remained in double digits, signaling renewed investor confidence across the board.
Should investors be concerned?
However, a closer look at technical indicators suggests caution may be warranted.
The Relative Strength Index (RSI) for Bitcoin, SUI, and Solana has crossed the 60 threshold, entering overbought territory.
Historically, such readings often hint at potential pullbacks, suggesting that short-term corrections could follow if momentum begins to cool.
Still, the overall market sentiment remains optimistic, fueled by institutional interest and shifting regulatory winds.
