The cryptocurrency market experienced a notable uptick on December 12, with the total market capitalization increasing by $70 billion. This resurgence follows a period of decline prompted by recent cuts to interest rates by the Federal Reserve. Bitcoin has maintained its position above $92,000, reflecting a daily gain of 2.45%.
Bitcoin (BTC) is currently valued at approximately $92,509, showing a 24-hour volatility of 2.4% and a total market cap of $1.85 trillion, with trading volume reaching $52.51 billion. Ethereum (ETH), on the other hand, has been trading around $3,245, marking a 1.68% increase, while its market cap stands at $391.87 billion and a trading volume of $24.49 billion within the same timeframe.
The meme coin sector has demonstrated significant activity, with the combined market cap of leading meme cryptocurrencies rising by 8%. Notably, Fartcoin (FARTCOIN) surged by 10% to $0.39, boasting a market capitalization of $387.53 million and a trading volume of $171.31 million. Additionally, major layer 1 cryptocurrencies experienced an average growth of 1%, with Zcash (ZEC) seeing an impressive rise of over 8%.
Data from Santiment indicates that most prominent altcoins are currently situated in a neutral trading zone. XRP (XRP) is hovering around $2.04, displaying a 24-hour volatility of 1.1% and a market cap of $122.97 billion, being considered “mildly undervalued” at this stage.
Market analyst Jason Pizzino commented on social media that both Bitcoin and altcoins are undergoing a relief rally. He identified his invalidation levels for Bitcoin, which remain stable between $108,000 and $116,000. Pizzino suggested that this rally could reignite bullish sentiment among investors before the market potentially faces another correction.
Congress Advocates for Crypto in 401(k) Plans
The positive sentiment in the crypto market coincides with significant developments in Washington, D.C. On December 11, the House Financial Services Committee reached out to the Securities and Exchange Commission (SEC), requesting updates to regulations that would permit Bitcoin and other digital assets to be included in 401(k) retirement plans. This initiative aligns with directives from President Trump aimed at broadening investment options for retirement accounts.
Lawmakers argue that existing regulations are outdated and hinder millions from accessing newer asset classes, including cryptocurrencies. This request follows an executive order from August 2025 by President Trump, titled “Democratizing Access to Alternative Assets for 401(k) Investors,” which instructed federal agencies to enhance the variety of assets available for retirement planning.
The Congress is encouraging the SEC to adhere to this policy and collaborate with the Department of Labor on related issues. Additionally, legislators are advocating for wider access by modifying the definition of accredited investors, which typically restricts certain markets to affluent individuals. The cryptocurrency community believes that incorporating digital assets into 401(k) plans could significantly elevate market demand.
Disclaimer: This article aims to provide accurate and timely information but should not be considered financial or investment advice. Market conditions can shift rapidly; therefore, readers are advised to conduct their own research and consult with professionals before making any investment decisions based on this content.
