Bitcoin Rebounds Above $81,000 as Altcoins Surge
Bitcoin reclaimed its ground above $81,000 over the weekend, trading at $81,237 as of Monday. This marks a 5.6% gain in the past seven days, recovering from last Wednesday's dip below $76,000 that followed the Fed rate hike.
The rebound had a ripple effect across the market: total crypto market capitalization reached $2.8 trillion over the weekend and briefly neared $2.9 trillion, with altcoins alone climbing from $1.17 trillion to a peak of $1.23 trillion.
Crypto-linked equities also saw significant gains on Friday, with Coinbase rising 11.7% to $194.25, Strategy jumping 16.4% to $153.92, Robinhood gaining 9.1% to $119.82, and Circle adding 7.9% to $91.78.
The moves were attributed to Wall Street's interpretation of the SEC's tokenized-stock exemption issued last week, with Goldman Sachs and Citizens analysts naming Coinbase, Robinhood, and Circle as early beneficiaries.