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Bitcoin climbed on Friday, extending recent gains and reaching a one-week high as optimism surrounding a more crypto-friendly regulatory framework in the United States helped support the market despite ongoing geopolitical tensions in the Middle East.
By 01:49 ET (05:49 GMT), Bitcoin rose nearly 3% to $71,529.7, putting the world’s largest cryptocurrency on track for a weekly gain of about 6.5%.
The rally also came as oil prices paused their recent surge, easing some inflation concerns that had weighed on risk-sensitive assets.
Regulatory optimism supports crypto
Bitcoin’s gains were largely driven by an announcement earlier this week that the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) will collaborate to develop a more comprehensive regulatory framework for digital assets.
Under the agreement—called the “Joint Harmonization Initiative”—the two agencies plan to coordinate oversight of crypto markets, including:
- Establishing formal data-sharing protocols
- Streamlining reporting requirements
- Ending separate enforcement actions by the SEC and CFTC
The initiative aims to create a “fit-for-purpose regulatory framework” for cryptocurrencies and other emerging technologies.
Although the agreement is non-binding, the move has boosted investor confidence by signaling progress toward clearer federal crypto regulation.
Policy shift under Trump administration
The regulatory initiative aligns with U.S. President Donald Trump’s campaign promises to provide clearer rules for the digital asset industry.
Trump has appointed pro-crypto leadership at both the SEC and the CFTC, raising expectations that the U.S. may adopt a more supportive approach toward cryptocurrency innovation.
Geopolitical risks still cloud outlook
Despite the rally, Bitcoin’s recovery remains fragile as broader market sentiment continues to be affected by the U.S.–Israel conflict with Iran.
The war has triggered sharp volatility across financial markets, particularly through its impact on oil prices. Sustained increases in crude prices could drive higher global inflation, prompting central banks to adopt a more hawkish stance on interest rates.
Higher interest rates typically reduce demand for speculative assets such as cryptocurrencies.
Altcoins follow Bitcoin higher
The broader cryptocurrency market also moved higher on Friday alongside Bitcoin.
- Ethereum gained 3.9% to $2,109.48
- XRP rose 3.6% to $1.4218
- BNB, Cardano, and Solana advanced between 2.4% and 5.5%
Among meme tokens, Dogecoin climbed 4.8%, while the $TRUMP token jumped 13.7%.
Despite the recent rebound, most altcoins remain well below their previous highs after experiencing sharp declines in recent months, leaving overall sentiment toward the crypto sector cautious.
