Crypto-linked stocks experienced a sharp rebound on Friday, reversing losses incurred earlier in the week after the Senate failed to advance the CLARITY Act. The recovery coincided with Bitcoin climbing back above the $80,000 threshold.
Market gains were led by Strategy, which rose more than 13%. Coinbase and American Bitcoin both climbed approximately 11%, while Robinhood recorded a gain of nearly 9%, according to data from Yahoo Finance.
The broader rally extended to other crypto equities, including Circle, Strive, and Bitcoin miner Riot Platforms, which all posted gains ranging between 5% and 7%. Simultaneously, CoinGecko data showed that Bitcoin rose about 5% over a 24-hour period to trade around $80,800.
These gains follow a significant market downturn prompted by the Senate's September 15 failure to advance the CLARITY Act. During that initial selloff, Coinbase and Circle dropped about 10%, Strategy and Strive fell roughly 5%, and American Bitcoin declined by about 8%.
In the wake of the vote, US regulators have continued pursuing crypto-related actions using their existing authority. On Thursday, the Commodity Futures Trading Commission (CFTC) granted no-action relief to passive software providers, while the Securities and Exchange Commission (SEC) temporarily eased requirements for specific platforms facilitating the onchain trading of tokenized securities.
Additionally, the CFTC submitted a crypto market regulatory action for White House review. The prerule filing did not disclose specific details regarding the planned regulation.
