The $crypto market is seeing renewed volatility as $Bitcoin rebounds above $118,000 and $Ethereum holds near $4,200 after recent highs. In a political twist, Bo Hines, White House crypto adviser to President Donald Trump, has announced his resignation — a move that could shift the administration’s digital asset policy.
After dipping to $112,600 earlier this week, Bitcoin ($BTC) has bounced back, currently trading just above $118,000. The recovery follows a consolidation phase and renewed buying interest near major support levels. Analysts suggest the next hurdle lies at $120,000, where strong resistance could decide the next market direction.
Ethereum ($ETH) briefly broke the $4,300 level, signaling strong bullish momentum, before a minor pullback brought it to around $4,200. While the correction is seen as healthy, traders are closely watching whether $4,000 holds as a key support in the coming days. A sustained bounce from this level could set up a push toward $5,000.
Bo Hines, who chaired the Council of Advisers on Digital Assets under the Trump administration, confirmed his departure on Saturday, saying he will return to the private sector. Late last month, Hines led a cryptocurrency working group that outlined the administration’s stance on digital asset regulation, urging the SEC to draft specific rules for the sector. His resignation raises questions about continuity in U.S. crypto policy.
