Bitcoin Breakout: $81,128 Surge Attributed to SEC Rule Relaxation and ETF Inflows

Bitcoin's price surged to $81,128 on September 18, marking its first time above $81,000 in two weeks. This rebound is attributed to several factors, including the US Securities and Exchange Commission's (SEC) easing of rules on tokenized stock trading and renewed inflows into spot Bitcoin exchange-traded funds.

The SEC introduced an 'Innovation Exemption' that grants some trading platforms a conditional five-year regulatory waiver, allowing stocks listed on US exchanges to be tokenized and traded on blockchain networks. This move is seen as a step towards bringing US capital markets on-chain, according to SEC Chair Paul Atkins.

Altcoins also experienced significant gains, with Ether rising 7.20% to $2,620, XRP climbing 7.95% to $1.40, and Solana surging 11.6% to $113. The broader market rebounded despite delays in US crypto market-structure legislation and a Federal Reserve rate increase.

The impact of the Fed's rate increase was more limited than expected, helping to spur buying. Falling oil prices also eased some inflation concerns, contributing to a restoration of appetite for risk assets. Bitcoin's move above $80,000 accelerated the rally through short-covering and rotation into altcoins.