Today’s Crypto Recap

If you’re curious about the day’s highlights in the cryptocurrency domain, here’s the essential roundup on trends affecting Bitcoin prices, developments in blockchain, DeFi, NFTs, Web3, and regulatory updates.

SEC Enforcement Actions Decline Under New Chair Atkins

Recent analyses spotlight a notable dip in actions enforced by the U.S. SEC since Paul Atkins took the helm, with a drop of around 30% in enforcement actions reported for fiscal year 2025, according to data from Cornerstone Research.

This decline aligns with prior trends observed whenever there is a shift in SEC leadership. The report indicated this downturn extends to regulatory measures involving cryptocurrency firms, likely a result of several investigations being dropped after the exit of former Chair Gary Gensler. The case against Coinbase is highlighted as a notable dismissal earlier this year.

“Chair Atkins has communicated that a primary focus during his term will be establishing a stable regulatory foundation for digital assets with a rational and principled approach.”

*Translation: “Chair Atkins has communicated that a primary focus during his term will be establishing a stable regulatory foundation for digital assets with a rational and principled approach.”

Bearish Sentiment Surrounds Bitcoin’s Market

Bitcoin is now perceived as entering a bearish phase due to declining institutional interest, with data from CryptoQuant suggesting that market conditions are at their lowest during this current bull market cycle initiated back in January 2023.

The Bull Score Index has plummeted to 20 out of 100, and Bitcoin’s value has dipped below the 365-day moving average, a critical indication of market stability. Notably, institutional buying has slowed significantly.

Nvidia Shines with Strong Q3 Earnings

Nvidia recently announced record earnings for the third quarter, outperforming market expectations, which significantly supported crypto and tech stocks during after-hours trading. This financial surge saw Nvidia’s revenues climb by 62% year-on-year, impressively exceeding analyst projections.

Following Nvidia’s report, Bitcoin saw slight recovery, rebounding toward $93,000, marking a rise from below $89,000 recorded previously.

Overall, the interplay of regulatory adjustments and market sentiments remains a pivotal focus for investors and analysts alike.