Bitcoin
Bitcoin reclaimed the $80,000 level on Friday, rising more than 5% as the broader crypto market recovered from the Senate setback for the CLARITY Act. Solana and Hyperliquid led gains among major cryptocurrencies, each rising about 10%, while Hyperliquid moved above $90 to a new all-time high.
The rebound comes as U.S. regulators continue advancing crypto-related initiatives despite the stalled legislation. The Commodity Futures Trading Commission submitted its crypto asset rulemaking to the White House for review, while the Securities and Exchange Commission released its long-awaited innovation exemption for onchain trading of tokenized stocks. The CFTC filing remains at an early rulemaking stage, with substantive details yet to be released.
The market reaction suggests that the CLARITY setback has not prevented traders from reassessing the broader regulatory direction for digital assets. Bitcoin had recently consolidated around $75,000–$78,000 before breaking back above $80,000, while strength in higher-beta assets such as SOL and HYPE indicates broader participation in the rebound.
Hyperliquid also introduced manual borrowing, allowing users to supply HYPE and BTC as collateral for stablecoin loans including USDC and USDT. The combination of a new all-time high and expanded borrowing functionality adds another development to the protocol as its token outperformed much of the large-cap market.
At the same time, the macro backdrop remains an important variable. The Federal Reserve recently raised rates by 25 basis points, while JPMorgan analysts cited elevated short interest and hedging around BlackRock’s IBIT ETF as evidence that investors remain cautious on Bitcoin relative to gold. The current rally therefore leaves the market watching whether Bitcoin can sustain its move above $80,000 while regulatory developments and monetary-policy expectations continue to shape risk appetite.
