Bitcoin Reclaims 80000 Dollar Level Amid Regulatory Shift
Bitcoin rose above $80,000 after the CFTC submitted new market rules to the White House. This regulatory move followed the Senate blocking the CLARITY Act earlier in the week.
Bitcoin climbed 4% to $80,800 on Friday morning. This was the first time the asset traded above $80,000 in over a week. The total cryptocurrency market value jumped 2% to just under $2.8 trillion. Nearly $490 million in crypto bets were liquidated in the last 24 hours. Shorts accounted for $431 million of these losses. The price action followed the CFTC filing two new rule proposals with the Office of Information and Regulatory Affairs. These proposals cover crypto asset transactions and markets. The filing occurred after the Senate blocked the CLARITY Act in a procedural vote. That blockage had previously dragged Bitcoin below $75,000 on Tuesday.
Retail sentiment on Stocktwits remained bearish for Bitcoin over the past day. Hyperliquid and Solana led gains among major cryptocurrencies. Hyperliquid (HYPE) rose more than 10% to a record high above $91. Solana (SOL) gained over 8% to just under $110. Zcash (ZEC) reached a record high above $1,500 before settling near $1,480. These altcoins showed mixed retail sentiment, with Zcash trending bullish and others remaining bearish.
Regulatory Filings Drive Market Rebound
The CFTC submitted Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets to OIRA for review. This action put the agency’s rulemaking process into motion. The move provided a regulatory pathway after the legislative failure of the CLARITY Act. Traders responded positively to the increased clarity from the commodity regulator. The filing signals a continued effort to define the legal status of digital assets. This regulatory development occurred alongside broader market liquidity improvements.
Altcoins Post Significant Price Gains
Uniswap (UNI) gained about 19% in the session. Near Protocol (NEAR) rose 25%. Arbitrum (ARB) jumped nearly 30% in roughly two hours to around $0.22. Ethereum (ETH) gained about 3.9%, while Ripple’s XRP climbed 4.6%. Hyperliquid Strategies (PURR) stock rose as much as 4.75% in morning trade. The surge in ARB was driven by tokenization narratives. These gains contrasted with the broader bearish sentiment seen in Bitcoin trading.
Tokenization Narrative Gains Momentum
The SEC cleared a path for authorized venues to offer tokenized U.S. stocks. This framework operates under a five-year conditional exemption. It requires tokens to provide the same shareholder rights as traditional securities. This includes dividends and voting rights. Robinhood (HOOD) stock gained over 7% in morning trade. This followed a 5% rise in the previous session. Robinhood Chain is built using Arbitrum technology. Michael Saylor-backed Strategy (MSTR) also gained on the equities side. The development strengthens the case for blockchain-based equity trading.
