Crypto markets advanced Friday after U.S. lawmakers took a key step toward clearer regulation, with XRP and dogecoin leading gains even as global risk assets came under pressure.
Bitcoin climbed back above $81,000 following the Senate Banking Committee’s 15–9 bipartisan approval of the Digital Asset Market Clarity Act late Thursday. The asset traded around $81,055 in Asian hours, up 2.3% on the day and nearly 2% over the past week, recovering ground lost after earlier inflation data.
Major altcoins outperformed bitcoin. XRP rose 4.5% to $1.49, extending its weekly rally to 7.6% and emerging as the top performer among large-cap tokens. Dogecoin gained 3% to $0.1159, bringing its weekly advance close to 9%. BNB added 2% to $681, while Solana also increased 2% to $91.
The Clarity Act vote marks the most meaningful bipartisan progress on crypto market structure in recent months. Committee Chairman Tim Scott secured passage by reintroducing amendments that had previously been rejected, ultimately winning support from two Democratic senators after prolonged debate.
Scott called the process one of the most demanding of his Senate career, while Senator Elizabeth Warren pushed back, criticizing the procedural shift and signaling continued disagreement over the bill’s direction.
The legislation will now be merged with a separate version passed by the Senate Agriculture Committee before heading to a full Senate vote and later the House. Outstanding issues—including law enforcement provisions and ethics requirements—remain unresolved and could influence broader support.
XRP’s relative strength reflects its exposure to regulatory developments, given its long-running legal battle with the SEC. Greater clarity around market structure could remove a key overhang that has weighed on the token.
Industry participants say the bill could have broader implications. Renna Ba of Layer-2 network Morph noted that distinguishing payment stablecoins from investment assets provides a clearer legal framework for global payments innovation.
Meanwhile, CK Zheng of ZX Squared Capital said the regulatory momentum supports the view that bitcoin likely bottomed earlier this year. He pointed out that the current drawdown of roughly 50% is significantly less severe than the nearly 78% drop seen in the 2022 cycle, suggesting the asset is maturing.
Zheng also highlighted rising institutional demand, referencing Strategy’s STRC preferred stock issuance, which has attracted $8.5 billion with an 11.5% yield.
Despite crypto’s gains, the broader macro backdrop remained fragile. Comments from Donald Trump that the U.S. does not need to reopen the Strait of Hormuz pushed oil prices higher, intensifying inflation concerns.
Global markets reacted negatively, with Asia-Pacific equities falling 1.1%, U.S. stock futures slipping 0.2%, and the 10-year Treasury yield rising to 4.52%. In Japan, bond yields jumped after producer prices recorded their fastest annual increase since 2023, while the U.S. dollar strengthened for a fifth straight session on safe-haven demand.
