Bitcoin steadied around $79,000 on Friday after briefly topping $80,245 on Thursday, as investors balanced optimism over a potential ceasefire in the Middle East with growing regulatory uncertainty in the U.S.
The world’s largest cryptocurrency rose 1.9% to $80,245.4 by 18:56 ET on Thursday, according to market data. Ether, the second-largest crypto by market value, added 0.8% to $2,514.19. Among major altcoins, Solana surged more than 9%, while XRP climbed over 3%. Dogecoin advanced 2.8%, and the $TRUMP memecoin jumped 12.3%.
Regulatory developments in the U.S. continued to influence sentiment, with President Donald Trump calling for stricter oversight of the sector. The U.S. Securities and Exchange Commission is reportedly working on additional rules for crypto custody services, adding to uncertainty ahead of potential legislation such as the Clarity Act, which has stalled in Congress.
Geopolitical risks in the Middle East also weighed on markets. Reports of a potential ceasefire between the U.S. and Iran, following an agreement between Iran and Oman to reopen commercial shipping routes through the Strait of Hormuz, contributed to a sharp decline in oil prices. The development eased some concerns over supply disruptions in a key oil transit chokepoint.
Macroeconomic factors added to the mixed backdrop. U.S. Treasury bonds sold off sharply ahead of the latest Personal Consumption Expenditures (PCE) price index data, which showed inflation remained steady in July at levels well above the Federal Reserve’s 2% annual target. The sell-off fueled a broader
