Bitcoin miners build on gains after Jane Street discloses stakes

US President Donald Trump is planning to nominate Michael Selig as the next chair of the Commodity Futures Trading Commission (CFTC), after pulling back the nomination of Brian Quintenz.

Bloomberg reported the news on Friday, citing an unnamed Trump administration official. No official announcement has been made at the time of this writing.

Selig currently serves as the Securities and Exchange Commission’s crypto task force chief counsel and senior adviser to SEC Chair Paul Atkins. He has been characterized as “pro-crypto” by some analysts and influencers in the crypto community, who celebrated the potential nomination.

A Reddit AMA lets users talk directly with the DFDV team and ask about updates, strategy, and other important details. This gives the project a chance to build trust and spread news fast. If the team shares good news or answers important questions, it could bring more interest and higher price movement. However, if the answers are weak or there is no big update, this event may not move prices much. It mostly depends on what is shared and how the market feels. For more information, see the official announcement here.

Venice Token will start charging based on how much people use their search and scrape APIs. This move could help the project earn more money if demand is strong. For holders, better money flow is usually positive. But if the new pricing turns away users, it might hurt usage and slow growth. The effect on price depends on how the new plan is received—high demand will be bullish, but user drop-off could be bearish. To read more on this change, check the details here.

The ending of FastBTC is likely good news because it shows Sovryn now has safer and faster BTC transfer tools. This gives confidence to users, which may help SOV price, as old tools get replaced with better, core-supported options. Clear, strong security is important in crypto projects. But there may be some trouble if users do not switch to the new way fast enough. Most likely, this upgrade will build trust and can help the price in the long term. More details about the change are found here.

Key points: 

• ETF inflows and spot accumulation by retail and institutional investors highlight the belief that Bitcoin trades at a discount. 

• Next week’s US macroeconomic calendar events should bring a resolution to a handful of fear catalysts that are suppressing prices across the crypto market. 

Bitcoin (BTC) traders spent a majority of the week in contention as sellers capped each price breakout at $112,000 and buyers stepped in to defend all dips to the $107,000 to $108,000 zone. 

Some analysts have expressed concern at BTC’s inability to hold prices above $112,000 and its frequent revisits to the range lows, but the range compression shown by the 4-hr and daily higher lows and lower highs (candlestick chart below) could be a positive sign. 

Technical analysis traders frequently point out that “compression before expansion” is to be expected as volatility drops and prices consolidate after a major market move like the Oct. 10 sell-off, which saw BTC open interest drop by 50%. 

A cryptocurrency analyst has pointed out how a rebound could be about to begin for XRP after the Tom Demark (TD) Sequential flashed a buy signal.

TD Sequential Has Given A Buy Signal For XRP

In a new post on X, analyst Ali Martinez has talked about a TD Sequential signal that has appeared on XRP’s 4-hour price chart. The TD Sequential refers to a technical analysis (TA) indicator that’s generally used for locating points of probable reversal in any asset’s price.

The indicator involves two phases: the setup and countdown. In the first of these, it counts up candles of the same color up to nine. These candles don’t have to be consecutive. Once the nine candles are in, it signals that the prevailing trend has reached a state of exhaustion, with the price now potentially reaching a turnaround.

Naturally, this signal is a sell one if the candles leading up to the setup’s completion were green. Similarly, the asset could be assumed to have hit a bottom if nine red candles were involved instead. As soon as the setup is over, the countdown picks off. This phase works in much the same manner, with the only difference being that it lasts for thirteen candles, not nine. Once these thirteen candles are also in, the price attains another top/bottom.

Now, here is the chart shared by Martinez that shows the TD Sequential signal that has recently formed for the 4-hour XRP price:

As displayed in the above graph, this TD Sequential setup has appeared after a drawdown in the XRP price, suggesting the coin may be due for a reversal to the upside. “Looks like the rebound is about to begin!” noted the analyst.

Since the signal has appeared, the asset has already witnessed a bounce, implying that its bullish effect could be in action. It now remains to be seen whether this would lead to a fresh rally for the asset, or if the recovery will fizzle out before long.

XRP isn’t the only altcoin that has seen a TD Sequential setup recently. As Martinez has explained in another X post, Chainlink (LINK) has also witnessed the same signal on its 4-hour price chart.

From the graph, it’s visible that LINK has also completed this TD Sequential setup with nine red candles, indicating that the cryptocurrency may also be heading toward bullish price action. “The bounce could start any moment now!” said the analyst.

XRP Price

At the time of writing, XRP is floating around $2.45, up more than 9% over the last seven days.