Bitcoin Reclaims $80K After CFTC’s Crypto Proposals – HYPE, ZEC Hit New Record Highs Amid Rally

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.