Bitcoin Rallies 5% on Eased Oil Prices and Regulatory Progress

Bitcoin has rallied nearly 5% to around $81,015 after falling from the mid-$77,000 range. This comes as over $603 million in crypto positions were liquidated due to heavy short selling.

The rally is attributed to easing tensions in the Middle East, which have led to a decrease in oil prices. Crude oil prices fell below $100 after Saudi Arabia found alternative supply routes through Oman, alleviating fears of major supply disruptions.

The U.S. Commodity Futures Trading Commission has also submitted new crypto rulemaking titled 'Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets' to the White House for review.

Additionally, the SEC granted a five-year exemption for limited on-chain trading of tokenized stocks, allowing regulators to test blockchain-based trading while maintaining investor protections.