Crypto markets rally as bitcoin reclaims $80,000 amid U.S. regulatory momentum

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Crypto rally as bitcoin hits $80,000

Highlights

Bitcoin jumps over 5% to surpass $80,000 as the SEC and CFTC advance digital asset regulation and the CFTC submits new rules for review.
Solana and Hyperliquid surge about 10% among major cryptocurrencies, with Hyperliquid hitting a record above $90 and enabling manual borrowing against HYPE and BTC.
JPMorgan notes that elevated short interest in BlackRock's IBIT ETF reflects caution on bitcoin, while declining US yields and outperforming altcoins signal market resilience despite regulatory setbacks.

Regulatory steps lift market sentiment

The Block reports that crypto markets are moving higher Friday as the Securities and Exchange Commission and Commodity Futures Trading Commission continue advancing digital asset regulation through separate actions. Bitcoin gains more than 5% to reclaim the $80,000 level after trading around $78,000 to $75,000 in recent weeks, while investors also digest the Senate setback for the Clarity Act.

Earlier Friday, the CFTC files its crypto asset rulemaking to the White House for review. That follows the SEC's release a day earlier of its innovation exemption, a measure designed to allow onchain trading of tokenized stocks and to expand digital market activity in U.S. capital markets.

A House panel also votes earlier this week to move forward with the American Reserve Modernization Act, which would direct the Treasury Department to maintain a secure Bitcoin storage facility. Pantera Capital founder and managing partner Dan Morehead tells CNBC the industry does not need Congress because the SEC and CFTC are enacting measures that would have been included in Clarity anyway.

Altcoins and trading platforms outperform

Among the 10 largest cryptocurrencies, Solana and Hyperliquid lead gains with rises of about 10%, outpacing bitcoin's advance. Morehead says Pantera is much more bullish on Solana than Ethereum, while adding that both networks remain valid and that dozens of important blockchains are likely to emerge over time.

Hyperliquid reaches a record above $90 and trades around $91.60 at publication time. The platform also launches manual borrowing, allowing users to post HYPE and BTC as collateral for stablecoin loans in USDC and USDT.

Entrepreneur and investor Kevin O'Leary says he is buying new crypto positions and watching for a major stock exchange to adopt blockchain infrastructure. JPMorgan analysts say on Thursday that high short interest and hedging around BlackRock's IBIT ETF show investors remain more cautious on bitcoin than gold, although any easing in that hedging could improve bitcoin's support relative to gold.

Jeff Anderson, head of U.S. at STS Digital, says markets are trading unexpectedly well after the combined pressure from the Clarity Act failure and a hawkish rate signal from Warsh earlier in the week. He says lower U.S. yields, modest bitcoin gains and stronger altcoin performance suggest traders increasingly view that policy shock as temporary.

Our earlier report on the SEC’s five-year Innovation Exemption and related CFTC relief outlined how U.S. regulators are moving ahead of Congress to expand pathways for tokenized securities and crypto derivatives. It explained the SEC’s framework for approved venues to trade tokenized U.S. stocks under strict transparency and investor-protection conditions, alongside the CFTC’s no-action posture for certain interfaces linking users to regulated derivatives. The piece also noted that while House committees advanced bills like a Bitcoin Reserve proposal and a digital-asset tax measure, agency action was progressing faster than legislation after the Clarity Act stalled in the Senate.

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