Bitcoin Surges Past $80,000 Amid Regulatory Support
The cryptocurrency market experienced a significant surge on Friday, with Bitcoin breaking past $80,000 for the first time since September 4. The largest cryptocurrency by market capitalization briefly surged above $81,300, up more than 6.7% from its intraday low.
Ethereum, the second-largest cryptocurrency by market capitalization after Bitcoin, also rose significantly, hitting a new high of over $2,640 since September 11 and climbing more than 8.5% from its intraday low.
The rally in cryptocurrencies spilled over into U.S. equity-related assets, with major players such as Coinbase (COIN), Strategy (MSTR), Circle (CRCL), and Robinhood (HOOD) seeing significant gains. Cryptocurrency mining stocks also surged, with MARA Holdings (MARA) closing up nearly 13.8%, Bit Digital (BTBT) up nearly 13.1%, Riot Platforms (RIOT) up nearly 8.6%, and Hut 8 (HUT) gaining over 8.5%.