Shares of Strategy, Coinbase, Circle and other crypto-linked large caps rallied on Friday morning with Bitcoin back above $80,000.
- The rally comes after the CFTC submitted two proposed crypto market rules to OIRA for review.
- This puts the agency’s rulemaking process into motion after the CLARITY Act failed to advance in the Senate earlier this week.
- Hyperliquid and Solana led gains among major cryptocurrencies.
Bitcoin’s (BTC) price climbed back over $80,000 on Friday morning, for the first time in over a week, with Hyperliquid (HYPE) and Solana (SOL) leading gains among crypto majors.
The rally came after the Commodity Futures Trading Commission (CFTC) filed two new proposals, the Regulation Crypto Asset Transactions and the Regulation Crypto Asset Markets, with the White House's Office of Information and Regulatory Affairs (OIRA) for review.
The filing follows the blocking of the Clarity Act in a Senate procedural vote earlier this week, which dragged Bitcoin’s price down to below $75,000 on Tuesday.
Bitcoin Reclaims $80K As Crypto Market Rebounds
Bitcoin’s price climbed over 4% to $80,800, making it the top-trending cryptocurrency on Stocktwits at the time of writing. Retail sentiment around the apex cryptocurrency, however, remained in ‘bearish’ territory over the past day.
The overall cryptocurrency market jumped 2% higher to just under $2.8 trillion. CoinGlass data showed that nearly $490 million in crypto bets had been liquidated in the last 24 hours, with $250 million wiped out in the past hour alone. Shorts led the bleed with $431 million underwater.
Hyperliquid led gains among major cryptocurrencies, with HYPE’s price climbing more than 10% over the past 24 hours to a record high above $91. HYPE treasury Hyperliquid Strategies (PURR) gained alongside its underlying asset. PURR stock rose as much as 4.75% in morning trade.
Solana followed, with SOL’s price up more than 8% over the past 24 hours, now just under $110. Despite the rebound, SOL remains roughly 62% below its record high of more than $293 reached in January 2025.
On Stocktwits, retail sentiment around both altcoins remained in ‘bearish’ territory over the past day.
Ethereum, Zcash, XRP Join Crypto Rally
Ethereum (ETH) gained about 3.9%, while Ripple’s XRP (XRP) climbed 4.6%. Zcash (ZEC), the newest member of the top 10 cryptocurrencies by market capitalization, was up roughly 3% in the latest session after a much larger rally over the previous two days.
ZEC’s price reached a record high above $1,500 on Friday morning before paring gains to sit at around $1,480. It was among the top-trending cryptocurrencies on Stocktwits at the time of writing, with retail sentiment in the ‘bullish’ zone over the past day.
Among other major altcoins, Uniswap (UNI) gained about 19%, while Near Protocol (NEAR) rose 25%.
ARB Surges With Tokenized Stock Trading In Focus
Arbitrum (ARB) was among the biggest gainers in the top 50 cryptocurrencies, with ARB’s price jumping nearly 30% in roughly two hours to around $0.22. The token saw retail sentiment improve to ‘neutral’ from ‘bearish’ territory over the past day.
The move came one day after the Securities and Exchange Commission (SEC) cleared a path for authorized venues to offer tokenized U.S. stocks under a five-year conditional exemption. The framework allows compliant trading venues to offer blockchain-based versions of stocks while requiring the tokens to provide the same shareholder rights as traditional securities, including dividends and voting rights.
The SEC move could further strengthen the tokenization narrative around Arbitrum following the launch of Robinhood’s (HOOD) Robinhood Chain, which is built using Arbitrum technology.
HOOD stock also gained on Friday, up over 7% in morning trade after rising over 5% in the previous session. On Stocktwits, retail sentiment around the Vlad Tenev-led firm trended in ‘neutral’ territory over the past day.
On the equities side, other cryto-linked large caps also gained. Michael Saylor-backed Strategy (MSTR) led the cohort, followed by Coinbase (COIN), Circle (CRCL) and Bitmine Immersion Technologies (BMNR). MSTR stock rose over 10% in morning trade and COIN stock climbed more than 9%. Meanwhile, CRCL and BMNR shares gained around 7% each.
Read also: Dan Ives Says AI Leaders Can't 'Stop The Elevator' With Meta In The 'Ferrari Left Lane' As AI Race Accelerates
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
