The Trump transition team is considering establishing a position of White House cryptocurrency czar, a move that has sparked speculation among cryptocurrency enthusiasts. Meanwhile, Bitcoin (BTC) has reached an all-time high of $98,342, primarily due to unlimited capital inflow and institutional adoption. According to a Bloomberg Law report on November 20, the Trump team is exploring the idea of a "cryptocurrency czar," marking the first time the White House would have a dedicated position for digital assets. Candidates are currently being screened, and industry executives have met with the Trump transition team this week. This initiative could indicate a shift in the U.S. government's perspective on cryptocurrencies. Meanwhile, Bitcoin's market capitalization has reached $1.90 trillion, surpassing silver ($1.76 trillion) and Saudi Aramco ($1.79 trillion), making it the seventh most valuable asset in the international market. Bitcoin's rise is largely attributed to U.S. spot ETFs, which have absorbed about 90% of the selling pressure from long-term holders over the past month. Despite long-term holders starting to cash out, ETFs are filling that gap. The proposal for a White House cryptocurrency czar suggests that policymakers are becoming aware of this trend, while Bitcoin continues to set new historical highs, solidifying its position in the digital asset market.

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Crypto enthusiasts have been left guessing after news emerged that Trump’s transition team is reportedly considering establishing a dedicated White House crypto role.This development comes even as Bitcoin (BTC) hits record highs of $98,342, owing to unlimited cash inflows and institutional adoption.A Crypto Czar for the White House?According to a Bloomberg Law report on 20th November, insiders say Trump’s team is exploring the idea of a “crypto czar.” This would be the first-ever White House position specifically for digital assets.Candidates are already being vetted, and industry executives have reportedly met with Trump’s transition team this week.This move could signal a shift in how the U.S. government views crypto. A dedicated policy role might bring much-needed clarity to the space. It could also show that the administration sees crypto as a serious part of the financial future.Meanwhile, Bitcoin is in the process of taking the shine. According to data from Glassnode, capital inflow into the crypto market has stood at $62.9 billion in the last thirty days. Currently, BTC is leading by example, with institutional investors fueling much of the action.Bitcoin’s market capitalization has reached $1.9 trillion, more than silver ($1.763 trillion) and Saudi Aramco ($1.791 trillion). It is now the seventh most valuable asset in the international market.This is not just a price phenomenon but a trend change in the market investors. Gold was up only 5.3% this quarter, and silver only 8%. Bitcoin? A staggering 61.3%. These figures indicate that investors are in search of innovation; they are in search of something digital.Source: GlassnodeSpot Bitcoin ETFs Are Changing the GameA big part of Bitcoin’s rise comes from U.S. spot ETFs. These funds have been snapping up coins, absorbing about 90% of the selling pressure from long-term holders (LTHs) in the last month. Between October 8 and November 13, ETFs added 128,000 BTC to their portfolios.But there’s a twist. Long-term holders are starting to cash out. As Glassnode reported, they’ve sold 200,000 BTC in the past month as prices soared. This is typical when profits hit certain levels, and Bitcoin is now above the +350% profit threshold.Still, the bull run might not be over. Historical patterns suggest these rallies can last 4 to 11 months from this point. Bitcoin’s current momentum mirrors past cycles almost perfectly.Institutional demand is also keeping things steady. While long-term holders sell, ETFs are picking up the slack. This balance is critical for market stability.This isa crucial moment in the history of cryptocurrencies. The proposal for the position of the White House crypto czar indicates that policymakers are awake to the trends. On the same note, Bitcoin continues to setrecord-high prices, consolidating its position within the digital assets market.This could be the defining moment of crypto, at least in the coming months.Policy decisionsand market dynamics collide in a way we’ve never seen before. And Bitcoin? It’s leading the charge into uncharted territory.

The Trump team is considering establishing a White House cryptocurrency czar, while Bitcoin reaches an all-time high.