Bitcoin's Bull Run at Risk: SEC Cuts Crypto Team, Trump's Wealth Fund

Bitcoin's Price Range at Risk as Three Developments Could Slow the Next Bull Run

The price of Bitcoin (BTC) is at risk of losing its $90K-$110K range as three significant developments could put the brakes on the next bull breakout. These developments include the U.S. Securities and Exchange Commission (SEC) scaling back its crypto enforcement unit, President Trump's executive order for a U.S. wealth fund, and Citigroup's prediction of a weakening correlation between cryptocurrencies and the stock market.

The SEC is reportedly reducing its crypto enforcement team, with over 50 lawyers and staff being reassigned. This move signals a shift in the federal approach to digital asset regulation under President Trump's administration. The downsizing follows an executive order aimed at fostering digital asset growth by easing regulatory restrictions. As part of this, several SEC lawyers handling crypto cases are being reassigned, with a senior attorney transferred out of the enforcement division, which some see as an unfair demotion.

President Trump has signed an executive order to establish a sovereign wealth fund, setting off excitement among Bitcoin supporters. The order directs the Treasury and Commerce Departments to develop a plan within 90 days to create the fund, aimed at boosting financial security, reducing taxes, and strengthening the U.S. economy. While the order does not specifically mention Bitcoin or cryptocurrencies, it has fueled speculation due to the response from Senator Cynthia Lummis, a known advocate for digital assets. She reacted to the news on social media with the Bitcoin symbol, leading some to believe the fund might include Bitcoin in the future.

At the same time, several U.S. states are pushing their own cryptocurrency-friendly laws. Oregon, New Jersey, Mississippi, and Indiana have introduced bills to encourage blockchain technology and digital asset adoption. Oregon's proposal protects blockchain users from restrictions and removes certain regulatory requirements. New Jersey's legislation creates a regulatory framework and an enforcement fund for overseeing digital asset businesses. Mississippi's bill prohibits central bank digital currencies (CBDCs), ensures self-custody rights, and offers tax benefits for small crypto transactions. Indiana's proposed law protects the right to use digital assets, prevents local bans on crypto, and classifies mining as an industrial activity.

These state-level efforts indicate growing momentum for crypto in the U.S. While Trump's executive order does not confirm any direct involvement with Bitcoin, many in