A crypto trader discusses the potential for Bitcoin to retrace to $90,000 amidst other significant developments. The Cboe BZX Exchange submitted four 19b-4 filings for spot Solana ETFs coinciding with SEC Chair Gary Gensler's resignation announcement. FTX's bankruptcy estate is finalizing creditor payouts expected in March 2025. Gensler's departure aligns with President-elect Donald Trump's inauguration, who has been vocal about his intent to revamp the SEC's approach to cryptocurrencies. MicroStrategy has raised $3 billion to purchase more Bitcoin, despite a drop in its shares. To further develop the crypto space, Coinbase's CEO is set to meet with Trump to discuss potential roles in the administration. Bitcoin is currently valued at $98,877, and trading suggests a struggle around the %99,000 thresholds, with opinions on a potential dip to $90,000. Delio, a South Korean platform, has declared bankruptcy with significant customer losses, highlighting ongoing challenges in the crypto sector due to scams and hacks. Amid these rapid developments, the crypto market remains as volatile as ever.

Source 🔗