Bitcoin climbed past $72,000 on Friday, building on recent gains and reaching a one-week high as expectations of more crypto-friendly regulation in the United States strengthened market sentiment despite ongoing concerns surrounding tensions in the Middle East.
The world’s largest cryptocurrency was also on track for a weekly advance, supported in part by a pause in oil’s recent rally.
Bitcoin was up 3.28 percent, trading at $72,839 as of 12:49 GMT.
SEC partners with CFTC to develop regulatory framework for U.S. crypto markets
Bitcoin was poised to gain roughly 6.5 percent this week, outperforming broader risk-sensitive markets despite pressure from the ongoing Iran conflict.
The cryptocurrency’s advance was largely driven by news that the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) announced on Wednesday plans to cooperate on developing a clearer regulatory framework for U.S. crypto markets.
As part of the arrangement, the two agencies said they would work together to craft a federal policy aimed at establishing a “fit-for-purpose regulatory framework for crypto assets and other emerging technologies.”
The initiative, known as the Joint Harmonization Initiative, is intended to set up formal data-sharing procedures, simplify reporting obligations, and reduce separate crypto enforcement actions by the SEC and the CFTC.
Although the agreement is non-binding, the announcement boosted optimism that a more comprehensive regulatory structure for digital assets could emerge. The move also aligns with the broader policy direction of U.S. President Donald Trump, who has pledged greater regulatory clarity for the crypto sector and has appointed pro-crypto leadership at both agencies.
Read: Bitcoin trades near $70,000 as inflation fears raise Fed rate cut uncertainty
Inflation risks weigh on sentiment
Despite the landmark regulatory development, Bitcoin’s rebound remained fragile, as the cryptocurrency had experienced sharp volatility following a series of flash crashes in late 2025.
Risk appetite across broader markets also stayed subdued, with equity markets facing steep selloffs as investors worried about the economic fallout from the U.S.–Israel war on Iran.
The conflict’s potential inflationary effects were a major concern, as prolonged disruptions in oil markets could push crude prices higher and fuel global inflation. Such pressures could prompt major central banks to adopt a more hawkish policy stance, an outcome that typically weighs on cryptocurrencies and other speculative assets.
Broader cryptocurrency prices moved higher alongside Bitcoin on Friday. The world’s second-largest token, Ethereum, rose 3.91 percent to $2,146.14, while XRP gained 3.39 percent to $1.4351.
BNB, Cardano and Solana climbed between 2.4 percent and 5.5 percent on Friday, while Dogecoin rose 4.8 percent and Official Trump surged over 53 percent to $4.307
Despite the latest gains, most altcoins, like Bitcoin, were still recovering from steep losses in recent months, with overall sentiment toward the crypto market remaining fragile.
