Bitcoin climbed back above $80,000 on Friday morning for the first time in over a week, driving a broader recovery across crypto-linked equities and digital assets. The cryptocurrency market jumped 2% higher to approach $2.8 trillion following new regulatory filings submitted to the White House.
CFTC Regulatory Filings Catalyze Market Rebound
The upward price movement followed actions by the Commodity Futures Trading Commission (CFTC). The agency submitted two proposed rules—the Regulation Crypto Asset Transactions and the Regulation Crypto Asset Markets—to the White House’s Office of Information and Regulatory Affairs (OIRA) for review. This regulatory step advanced the agency’s rulemaking process just days after a procedural Senate vote blocked the Clarity Act, an event that had dragged Bitcoin’s price below $75,000.
Following the CFTC filings, Bitcoin gained over 4% to reach $80,800. CoinGlass data showed that nearly $490 million in crypto bets were liquidated over a 24-hour period, with short positions accounting for $431 million of those liquidations.
Altcoin Gains and Tokenized Stock Milestones
Major altcoins joined the market recovery, led by Hyperliquid and Solana. Hyperliquid’s HYPE token climbed more than 10% to a record high above $91, while its treasury vehicle, Hyperliquid Strategies (PURR), rose up to 4.75% in morning trading. Solana’s SOL gained more than 8% to trade just under $110, though it remains about 62% below its January 2025 record high.
Additional assets posted notable gains. Ethereum (ETH) increased 3.9%, Ripple’s XRP climbed 4.6%, and Zcash (ZEC) reached a record high above $1,500 before settling around $1,480. Among smaller tokens, Uniswap rose 19% and Near Protocol gained 25%.
Arbitrum (ARB) surged nearly 30% in a two-hour window to approximately $0.22. The move followed a decision by the Securities and Exchange Commission (SEC) to clear a path for authorized venues to offer tokenized United States stocks under a five-year conditional exemption. The framework permits compliant platforms to provide blockchain-based stock versions while maintaining traditional shareholder rights, such as voting privileges and dividends.
Related reading