Coinbase rebounds as altcoins surge with bitcoin holding above $80,000
Bitcoin held above $80,000 Friday as altcoins surged, with ICP, NEAR, and UNI leading gains. Coinbase rebounded 10% from session lows despite Thursday's earnings miss. SEC Chair Paul Atkins signaled support for onchain trading and blockchain settlement rules, bolstering sentiment around tokenization infrastructure. Strong U.S. labor data and record equity highs fueled risk appetite across crypto markets.
Key takeaways
- 1Bitcoin held above $80,000 while altcoins surged, with ICP jumping 12%, NEAR and UNI gaining ~7%.
- 2SEC Chair Paul Atkins signaled support for new rulemaking on onchain trading, crypto custody, and blockchain settlement infrastructure.
- 3Coinbase rebounded 10% from session lows despite reporting $398 million quarterly loss with softer trading activity.
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Why it matters
Regulatory clarity from the SEC on tokenization and onchain finance could accelerate institutional crypto adoption in India, while strong altcoin performance signals growing investor appetite beyond Bitcoin. The U.S. labor strength and equity rallies lifting crypto markets indicate global risk appetite that could benefit Indian retail investors holding diversified crypto portfolios.
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