Bitcoin Soars Past $81K as CFTC Sends Crypto Rules to White House
Bitcoin's price surged past $81,000 on Friday, hitting an intraday high of $81,238 before settling around $80,800. This marked a significant rebound from the cryptocurrency's previous drop below $75,000, which occurred when the US Senate failed to pass the CLARITY Act.
The sudden price surge was triggered by reports that the Commodity Futures Trading Commission (CFTC) had sent draft rules for crypto market regulation to the White House for review. This move sparked a rally in Bitcoin's price, causing $238 million in leveraged short positions to be liquidated over 24 hours.
Lacie Zhang, a research analyst at Bitget Wallet, attributed the price jump to renewed spot demand and daily U.S. spot ETF inflows, which totaled approximately $154 million. She noted that leverage had already been flushed out earlier in the month, leaving the market more responsive to spot demand.