17-4-2025 – Former Securities and Exchange Commission (SEC) Chairman Gary Gensler has drawn a stark distinction between Bitcoin and its digital currency counterparts, whilst the broader market experiences mixed trading signals.
The cryptocurrency markets displayed modest volatility on Thursday, influenced by Federal Reserve Chairman Jerome Powell’s cautionary remarks regarding the potential economic impact of new tariffs. Bitcoin maintained its robust position at $84,312, with Ethereum settling at $1,596, as the global cryptocurrency market capitalisation reached $2.64 trillion.
During a noteworthy CNBC interview, Gensler, who served as SEC Chairman from 2021 to 2025 under the Trump administration, likened Bitcoin’s enduring appeal to that of precious metals, particularly gold. He emphasised the cryptocurrency’s widespread global recognition as a fundamental strength, distinguishing it from the broader digital asset landscape.
The former regulator’s assessment of altcoins proved particularly pointed, as he suggested that nearly all cryptocurrency assets trade primarily on sentiment rather than substantive value. This evaluation aligns with his regulatory approach during his tenure, which saw numerous enforcement actions against various cryptocurrency enterprises.
Whilst some alternative cryptocurrencies, including XRP, Solana, and Dogecoin, registered gains reaching 4%, others such as BNB, Tron, and Litecoin experienced declines of up to 3%. This mixed performance occurs during a period dubbed “Bitcoin Season”, with Bitcoin’s market dominance approaching a four-year peak at 62.5%.
Despite his bullish stance on Bitcoin’s future, Gensler disclosed that he maintains no personal cryptocurrency holdings. Market analysts note that historically, periods of Bitcoin dominance often precede significant altcoin rallies, suggesting potential market shifts in the coming weeks.
The current Altcoin Season Index stands at a modest 16, indicating limited alternative cryptocurrency outperformance relative to Bitcoin over the past quarter. This metric, combined with broader market dynamics, has sparked considerable debate regarding the potential trajectory of various digital assets.
