Bitcoin Reclaims $80,000 as Solana and Hyperliquid Lead Altcoin Gains

Bitcoin reclaimed the $80,000 level on Friday, jumping more than 5% after weeks of trading in the $75,000‑$78,000 range. The rally was mirrored across the crypto market, with several altcoins posting strong gains.

Regulatory Momentum Continues

The Commodity Futures Trading Commission (CFTC) submitted its crypto‑asset rulemaking to the White House for review, following the Securities and Exchange Commission’s (SEC) release of an innovation exemption that permits on‑chain trading of tokenized stocks. A House panel also voted to advance the American Reserve Modernization Act, directing the Treasury to maintain a secure Bitcoin storage facility.

Market Leaders

Among the top ten cryptocurrencies, Solana (SOL) and Hyperliquid (HYPE) led the gains, each rising about 10%.

• Solana (SOL) advanced roughly 10%.
• Hyperliquid (HYPE) reached a new all‑time high above $90, trading around $91.60.

Hyperliquid introduced manual borrowing, allowing users to supply HYPE and Bitcoin (BTC) as collateral to borrow stablecoins such as USDC and USDT.

Industry Commentary

Pantera Capital founder Dan Morehead said the SEC and CFTC are implementing measures that would have been part of the stalled Clarity Act, and expressed bullishness on Bitcoin due to expectations of higher future interest rates. He also noted a stronger outlook for Solana compared with Ethereum (ETH), while acknowledging the long‑term relevance of multiple blockchains.

Entrepreneur Kevin O’Leary indicated he is adding new crypto positions and watching for a major stock exchange to adopt blockchain technology.

Investor Sentiment

JPMorgan analysts observed high short interest and hedging around BlackRock’s IBIT ETF, suggesting investors remain more cautious on Bitcoin than on gold. They noted that reduced hedging could provide additional support for Bitcoin relative to gold.

Market analysts highlighted that despite the “double whammy” of the Clarity Act setback and a recent hawkish rate hike, U.S. dollar yields have eased, Bitcoin is marginally higher, altcoins are outperforming, and the Nasdaq has returned to recent highs.