Crypto Market Rebounds after Fed Cut, Congress Presses SEC on 401(k) Crypto

The crypto market rebounded strongly on Dec. 12 following the Fed rate cuts, with the total market cap increasing by $70 billion in 24 hours.

• Bitcoin recorded a 2.45% gain, maintaining above $92,000.
• Ethereum rose by 1.68%, trading near $3,240.
• Meme coins saw an 8% increase, led by Fartcoin's 10% gain.
• Zcash surged over 8% among layer 1 cryptocurrencies.

Santiment data indicates most top altcoins are in a neutral zone, with XRP being "mildly undervalued" around $2.02.

Market analyst Jason Pizzino suggests Bitcoin and altcoins are in a relief rally, with his invalidation levels for Bitcoin between $108,000 and $116,000.

Congress Pressures SEC on 401(k) Crypto Inclusion

• On Dec. 11, the House Financial Services Committee urged the SEC to update rules for including Bitcoin and other digital assets in 401(k) plans.
• This is part of President Trump's initiative to expand retirement investment options.
• Lawmakers argue current regulations prevent access to newer asset classes like cryptocurrencies.
• The proposal aims to broaden accredited investor definitions, traditionally limited to wealthy individuals.

The inclusion of cryptocurrencies in 401(k) programs is seen as potentially boosting market demand.