On Monday (November 25), bitcoin sharply rebounded above $97,000. The elected president of the usa, Donald Trump, announced the appointment of pro-crypto hedge fund manager Scott Bessent as the new Secretary of the Treasury. Arkansas Congressman French Hill revealed that Hester Peirce, who is regarded as the "mother of cryptocurrency," will take over as acting chair of the Securities and Exchange Commission of the usa. Billionaire Elon Musk's company has reportedly accepted payments in dogecoin, which has spurred a weekly surge of over 15% for dogecoin (DOGE).

USA Congressman revealed: "The mother of cryptocurrency will take over the Securities and Exchange Commission of the usa."

Before the election, Trump promised to fire the current chair of the Securities and Exchange Commission of the usa, Gary Gensler, on the first day of his inauguration, January 20, 2025. Gensler announced last week that he would resign after Trump takes office.

Republican Congressman French Hill stated in an interview with cryptocurrency media that Hester may become the new acting chair of the Securities and Exchange Commission of the usa. He said, "We look forward to the Securities and Exchange Commission chairman to be appointed by Trump. After Gensler steps down on January 20 next year, the Republican Party will take over the position of acting chair of the Securities and Exchange Commission of the usa, which could be Hester; she is very likely to become the acting chair of the Securities and Exchange Commission of the usa."

Hill criticized that Gensler has disappointed the cryptocurrency ecosystem, as he has adopted an "enforcement is regulation" approach to handle the cryptocurrency industry.

"Gensler's understanding of the cryptocurrency industry is nearly unclear. The Securities and Exchange Commission of the usa cannot solve all the problems currently facing the cryptocurrency industry alone. Congress needs to collaborate with the Securities and Exchange Commission of the usa through relevant laws to ensure fair law enforcement for future digital assets," he pointed out.

Hill believes that Hester is a suitable candidate to replace Gensler. It is noteworthy that Mike Novogratz, CEO of Galaxy Digital, recently predicted that Hester might serve as the chairman of the SEC, and he also mentioned that Robinhood's general counsel Dan Gallagher could be another potential candidate.

For a long time, Hester has been one of the most crypto-friendly regulators. She holds a liberal stance on crypto regulation and has been dedicated to pushing for a clearer and more reasonable regulatory framework for cryptos, earning her the title of "Crypto Mom" in the crypto community. With Trump's victory, she has consistently been seen as one of the leading candidates to succeed as the chairman of the SEC.

However, Unchained previously reported that four sources closely linked to Hester or who regularly communicate with her revealed that she has no intention of serving as chairman of the SEC and plans to leave the regulatory agency after her term ends in June 2025. Three of these sources also stated that Hester does not intend to serve as acting chairman of the SEC.

A spokesperson for Hester's office responded at the time: "The only thing Commissioner Hester is considering doing after leaving is becoming a beekeeper, although she is a bit hesitant about it."

Previously, The Washington Post reported that potential candidates to lead the SEC include Dan Gallagher, SEC Commissioner Mark Uyeda, former SEC Commissioner Paul Atkins, and the former chairman of the CFTC, Christopher Giancarlo, who is nicknamed "Crypto Dad" by the community in addition to Hester.

Trump's major announcement: Pro-crypto Bentsen takes over as Treasury Secretary.

Forbes reported that Trump chose Bentsen as Treasury Secretary. Bentsen previously served as chief investment officer for billionaire George Soros and as founder of Key Square Capital Management, and he is a vocal advocate for blockchain and digital assets.

Bentsen's nomination signifies that the regulatory stance on cryptos under Trump's "new cabinet" will be distinctly different from that of the Biden administration, led by current Treasury Secretary Janet Yellen.

If ultimately confirmed, Besant can increase regular clarity and implement more favorable policies for the crypto industry - potentially aimed at integrating digital assets into the financial mainstream. He has long been a strong supporter of the transformative potential of blockchain, especially in modernizing the financial system.

The finance minister and the chairman of the SEC supporting cryptocurrencies may pave the way for bitcoin to become a strategic reserve asset. Approval must come from the US Congress, the Federal Reserve, the Treasury, and the president to designate bitcoin as a strategic reserve asset. Additionally, the SEC and the CFTC must develop clear regulatory guidelines, emphasizing the importance of Trump's new nominations and upcoming candidates.

Elon Musk's company has accepted 'dogecoin payments.'

The dogecoin designer Doge Designer, who frequently interacted with Musk on Twitter recently, posted: 'Musk's Boring Company accepts dogecoin payments; you can book rides and pay with dogecoin.'

Boring Company, founded by Musk, is a tunnel drilling and infrastructure development company dedicated to solving urban traffic congestion through the construction of underground tunnel systems. The company's core project, Loop, is similar to an underground high-speed transportation system that operates using Tesla vehicles and is therefore described as 'Tesla in a tunnel.'

The company spent approximately $47.5 million to build the Vegas Loop, which officially opened in mid-2021 at the Las Vegas Convention Center, with plans to extend to the airport, downtown, and other important locations.

After the news broke, dogecoin surged sharply, but the price fell back on Monday, possibly related to profit-taking by large whales.

According to on-chain tracking institution Whale Alert, on Sunday, a dormant address containing 740,283 dogecoin, equivalent to approximately 320,091 USD, was activated after 10.9 years.

FXEmpire analyst Bob Mason stated that despite a pullback over the weekend, bitcoin remains above the 50-day and 200-day exponential moving averages (EMA), signaling a bullish price outlook.

Breaking the November 22 high of 99,318 USD, bulls might aim for 100,000 USD. A breakthrough of 100,000 USD could lead to a rise to 120,000 USD.

Conversely, if bitcoin falls below 95,000 USD, it could signal a drop to 90,000 USD. Falling below 90,000 USD may lead bears to target 87,500 USD.

The 14-day RSI reading for bitcoin is 78.65, indicating an overbought zone. Selling pressure could intensify towards 99,318 USD.