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Bitget’s Gracy Chen predicts Bitcoin could drop to the $72K–$80K range despite growing institutional interest.

The Securities and Exchange Commission (SEC) has emerged as a big savior of the crypto industry in recent weeks— a shift that seemed unimaginable just a few years ago under Gary Gensler’s leadership.

In a post on Truth Social on Sunday, Trump announced that his January executive order on digital assets would create a stockpile of XRP, SOL and ADA currencies, surprising traders by choosing three lesser-known tokens and sending their prices soaring. Later on Sunday, Trump added that bitcoin and ether, the two biggest cryptocurrencies, would be included in the reserve.

Mike Selig, the newly-appointed chief counsel for the SEC’s Crypto Task Force, was previously a New York-based partner at Willkie Farr & Gallagher LLP.

A backlash over President Donald Trump’s plan to include three small and relatively risky tokens in an eagerly awaited U.S. strategic crypto reserve helped largely erase a rally for bitcoin and other digital assets on Monday.

Bitcoin analysts suggest major institutions and governments are waiting for a bigger dip before entering the market.

Michael Saylor predicts Bitcoin will reach a $200 trillion market cap, pushing BTC to $9.52 million per coin, as the U.S. considers a strategic crypto reserve under Trump’s plan.