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Bitcoin today: rises to $71K amid regulatory optimism
Bitcoin rose on Friday, continuing its recent gains and reaching a weekly high, as hopes for more crypto-friendly regulation in the United States helped support markets despite ongoing concerns about the war involving the U.S. and Israel with Iran.
The world’s largest cryptocurrency was also heading for a weekly gain, with some support coming from the recent pause in the rally of oil prices.
Bitcoin rose nearly 3% to $71,529.7 as of 05:49 GMT.
Bitcoin heads for weekly gain amid regulatory optimism
Bitcoin was on track to gain about 6.5% this week, with the world’s largest cryptocurrency outperforming broader risk markets despite negative sentiment stemming from the conflict with Iran.
The rise in the cryptocurrency came mainly after the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) said on Wednesday that they would cooperate to create a more comprehensive regulatory framework for U.S. markets.
Under the agreement, the two agencies signaled they would work together to ensure a federal policy that provides “a fit-for-purpose regulatory framework for crypto assets and other emerging technologies.”
The agreement, called the “Joint Harmonization Initiative,” aims to establish formal data-sharing protocols, simplify reporting requirements, and end separate enforcement actions against cryptocurrencies by the CFTC and SEC.
Although the agreement is not legally binding, the announcement helped strengthen optimism about a more comprehensive regulatory framework for cryptocurrencies.
The move largely aligns with U.S. President Donald Trump’s promises to bring greater clarity to cryptocurrency regulation, as Trump appointed pro-crypto figures to leadership roles at both the CFTC and the SEC.
Iran war concerns persist, risk appetite remains weak
Nevertheless, Bitcoin’s recovery appeared fragile, given that the cryptocurrency experienced sharp price swings following a series of crashes in late 2025.
Broader risk appetite also remained largely subdued, with stock markets experiencing major sell-offs as investors worried about the impact of the U.S. and Israel war with Iran.
The inflationary impact of the war was a key concern, as prolonged disruptions in oil markets could push oil prices higher and sustain global inflation.
This, in turn, could prompt major central banks to adopt a more hawkish stance — a scenario that typically weighs on cryptocurrencies and speculative assets.
Cryptocurrency prices today: altcoins rise alongside Bitcoin
The broader cryptocurrency market rose on Friday following Bitcoin’s gains.
The world’s second-largest cryptocurrency Ether rose 3.9% to $2,109.48, while XRP increased 3.6% to $1.4218.
BNB, Cardano, and Solana gained 2.4%–5.5%.
Among memecoins, DOGE rose 4.8%, while $TRUMP jumped 13.7%.
Despite the recent rebound, most altcoins, like Bitcoin, are still recovering from deep losses in recent months, while sentiment in the cryptocurrency market remains unstable.
See also: "Global giant BlackRock makes a long-awaited major move regarding Ethereum (ETH)!"
