Bitcoin staged a powerful recovery on Friday, climbing toward the $80,000 mark as renewed optimism over U.S. cryptocurrency regulation boosted investor sentiment.
The world’s largest cryptocurrency jumped 8.4% to around $77,691, after briefly reaching $79,601 during the session. The move brought Bitcoin back to levels not seen since late May and put the cryptocurrency on track for its strongest weekly performance in more than two years.
Trump backs crypto legislation
The latest rally followed comments from U.S. President Donald Trump, who urged Congress to advance the CLARITY Act, legislation designed to establish a clearer regulatory framework for digital assets in the United States.
The bill could be significant for the crypto industry, particularly for institutional investors that have been waiting for greater clarity around how different cryptocurrencies should be regulated.
However, the legislation still faces obstacles in Congress, with lawmakers divided over issues including the classification of digital assets and the treatment of rewards generated by stablecoins.
Treasury action adds support
Bitcoin’s gains were also supported by improving sentiment across broader financial markets.
The U.S. Treasury said it plans to double the size of its bond buybacks, a move aimed at helping manage Treasury market liquidity and limit pressure from rising yields.
Lower yields and improving liquidity conditions can benefit risk-sensitive assets such as cryptocurrencies, although Treasury yields later recovered from their weekly lows as investors continued to focus on America’s rising debt burden.
Bitcoin targets strongest week since 2024
Bitcoin was heading toward a weekly gain of approximately 23%, which would mark its best week since February 2024.
The latest rally also pushed BTC above the $60,000-$70,000 range in which it had traded for much of 2026.
Despite the sharp recovery, Bitcoin remains roughly 15% lower for the year after suffering a decline of more than 50% from its record high reached in October.
Market participants are also watching geopolitical developments closely, particularly tensions between the United States and Iran, which could create renewed volatility across global risk assets.
Crypto stocks join the rally
The Bitcoin rebound spilled over into publicly traded cryptocurrency companies.
Strategy gained strongly, while Circle, Coinbase, and Bullish also advanced. Bitcoin mining companies including MARA and Riot Platforms recorded particularly strong gains.
In Japan, Bitcoin treasury company Metaplanet also jumped more than 20%, extending its recent rally. The company has accumulated more than 40,000 Bitcoin.
Meanwhile, U.S.-listed spot Bitcoin ETFs attracted approximately $1 billion in net inflows during the week, marking their strongest weekly inflow since January and providing another indication of improving institutional demand.
Altcoins follow Bitcoin higher
The broader cryptocurrency market also moved sharply higher.
Ethereum gained around 5.5% to approximately $2,401, while XRP jumped more than 15%. Solana, Cardano, and BNB also posted solid gains.
Among major meme coins, Dogecoin climbed roughly 8.6%, while the TRUMP token advanced by more than 12%.
With Bitcoin breaking above its previous trading range and ETF inflows improving, market attention is now turning toward whether the cryptocurrency can sustain its momentum and challenge the $80,000 level.