Bitcoin (COIN:BTCUSD) moved higher on Friday, building on recent gains and reaching a one-week high as expectations for a more supportive regulatory environment in the United States helped offset lingering market anxiety surrounding the U.S.-Israel conflict with Iran.
The world’s largest cryptocurrency was also on track to post a weekly advance, aided in part by a pause in the recent surge in oil prices.
By 01:49 ET, Bitcoin had climbed nearly 3% to $71,529.7.
Bitcoin on course for weekly gains amid regulatory optimism
Bitcoin was poised to rise roughly 6.5% for the week, outperforming broader risk-sensitive markets despite the uncertainty created by the Iran war.
The rally in crypto markets was largely driven by developments in U.S. regulation after the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) announced on Wednesday that they would cooperate to build a clearer regulatory structure for digital assets in the United States.
As part of the agreement, both agencies indicated they would coordinate to introduce a federal policy designed to deliver a “fit-for-purpose regulatory framework for crypto assets and other emerging technologies.”
The initiative, known as the “Joint Harmonization Initiative,” aims to establish formal protocols for data sharing, simplify reporting requirements and eliminate separate enforcement actions by the CFTC and SEC against crypto firms.
Although the agreement is not legally binding, the announcement boosted expectations that a more comprehensive regulatory system for digital assets could emerge.
The initiative also aligns with U.S. President Donald Trump’s pledge to provide clearer rules for the cryptocurrency industry, after he appointed leadership at both the CFTC and SEC that is seen as supportive of the sector.
Iran conflict keeps risk appetite subdued
Even so, Bitcoin’s rebound remains somewhat fragile, as the cryptocurrency has experienced sharp price swings since a series of flash crashes in late 2025.
Investor appetite for risk has also remained limited, with global equity markets facing notable selloffs as traders assess the economic implications of the U.S.-Israel war with Iran.
A key concern is the inflationary pressure stemming from the conflict. Prolonged disruptions in oil markets could push crude prices higher and reinforce global inflation. This scenario could prompt major central banks to adopt a more hawkish monetary stance — a development that generally weighs on cryptocurrencies and other speculative assets.
Altcoins follow Bitcoin higher
Other major cryptocurrencies also advanced on Friday in line with Bitcoin’s move.
The second-largest cryptocurrency, Ether, gained 3.9% to $2,109.48, while XRP rose 3.6% to $1.4218.
BNB, Cardano, and Solana posted gains ranging from 2.4% to 5.5%.
Among meme tokens, DOGE increased 4.8%, while $TRUMP surged 13.7%.
Despite the latest rebound, most altcoins — like Bitcoin — remain significantly below their levels from earlier in the year, reflecting persistent caution among investors toward the crypto sector.