Rising beyond the $100,000 mark on Thursday, Bitcoin (BTC) momentarily reached about $103,000, signifying a notable comeback for the biggest cryptocurrency by market capitalization. The event marked a possible change in regulatory policy when President-elect Donald Trump declared Paul Atkins would oversee the Securities and Exchange Commission.

Framing his selection as part of a larger plan to promote economic development, Trump’s announcement characterized Atkins as a promoter of digital assets and creativity. The action is perceived as a turn from the austere regulatory posture on cryptocurrencies taken by departing SEC Chair Gary Gensler, therefore improving market sentiment.

During premarket trading, the Bitcoin movement…