Live: Bitcoin Holds Near $76K as Stocks Rally After Fed Rate Hike

The SEC has introduced its long-awaited “innovation exemption,” outlining how blockchain-based trading platforms can list and trade tokenized securities.

JPMorgan Has No Clear Middle East Outlook

“For the first time since the Iran conflict began, we don’t have a baseline view,” JPMorgan’s commodities team wrote Thursday. The analysts said they currently do not know how to model how the conflict will ultimately unfold.

The comments have drawn significant attention across financial discussions on X, as the Middle East situation has become increasingly complex, involving multiple parties and no obvious path toward a simple resolution.

WTI crude oil is slightly lower on the day but remains elevated above $100 per barrel. In the U.S., diesel prices reached a fresh record of $6.29 per gallon on Thursday.

Julian Assange Returns

“I’m back,” Julian Assange wrote in a post on X minutes ago. WikiLeaks had posted a similar message shortly beforehand, accompanied by an image of the whistleblower appearing ready to return to public activity.

The term “de-banking” has gained wider use in recent years, but WikiLeaks was an early and prominent example. In 2010, Visa, MasterCard and PayPal stopped processing payments for the organization amid pressure from the U.S. government.

Assange initially avoided using Bitcoin for WikiLeaks fundraising after Bitcoin creator Satoshi Nakamoto reportedly asked him not to, amid concerns that increased attention could lead authorities to target the network.

His family later used Bitcoin to raise funds for his legal expenses.

SEC Innovation Exemption Boosts Crypto-Linked Stocks

Crypto-related stocks that suffered steep losses earlier in the week following the failure of the CLARITY Act advanced in premarket trading after the SEC announced its long-awaited “innovation exemption.”

Coinbase (COIN), Circle (CRCL), Bullish (BLSH), Robinhood (HOOD) and Securitize (SECZ) were among the companies posting gains.

The SEC’s move provides blockchain-based trading venues with guidance and authorization for listing and trading tokenized securities.

Robinhood CEO Vlad Tenev said the development could accelerate tokenization in the U.S., pointing to potential benefits including instant settlement, round-the-clock trading and fractional ownership.

CleanSpark and CoreWeave Announce Debt Offerings

CleanSpark (CLSK) gained 5% after proposing a $2.227 billion debt offering due in 2031. The proceeds would be used to complete construction of its Sandersville data center, reimburse the company for investments already made in the project and reserve funds for debt payments.

CoreWeave (CRWV) declined 2% after announcing a $3 billion convertible debt offering due in 2033, with the deal potentially increasing to $3.5 billion.

The company plans to use most of the proceeds for general corporate purposes rather than a specific project. Some of the funds will also support options intended to reduce potential shareholder dilution if the debt converts into equity.

U.S. Jobless Claims Fall While Housing Activity Weakens

U.S. initial jobless claims dropped to 196,000 last week, according to Thursday’s Bureau of Labor Statistics report. That compares with 206,000 the previous week and came in well below economists’ forecast of 208,000.

The four-week average also declined to 203,250 from 206,000.

Meanwhile, the interest-rate-sensitive housing market continued to weaken. Housing starts fell 2.6% in August to a seasonally adjusted annual rate of 1.275 million, down from 1.309 million in July and below expectations of 1.31 million.

Oil Retreats on China-Iran Developments

WTI crude slipped below $100 per barrel for the first time in roughly a week following a Reuters report that China had asked Iranian leaders to help restrain Yemen’s Houthis.

The request reportedly came from Saudi Arabia following military advances by the Houthis.

WTI was down 3% at $99.40 per barrel. Lower oil prices helped ease Treasury yields, with the 10-year yield falling 5.4 basis points to 4.95%.

The move also supported risk assets. Bitcoin rose 1.15% to $76,900, while Nasdaq 100 futures climbed 1.5%.

Stocks Rise Despite Fed Rate Hike

U.S. stock futures pointed to a sharply higher open following the Federal Reserve’s rate hike. Nasdaq 100 futures gained 1.1%, while S&P 500 and Dow Jones Industrial Average futures were each up 0.9% less than two hours before the New York session began.

With the Fed hike completed and another increase largely expected at either the October or December meeting, investors appeared to be returning to risk assets.

Treasury yields also moved lower, with the 10-year yield down 3 basis points to 4.975% and the two-year yield falling 1.4 basis points to 4.71%.

Oil prices eased as well, with WTI declining to $100.76 from as high as $107 earlier in the week.

Bitcoin remained relatively flat at $76,100, close to where it traded immediately before the rate decision.

Bank of England Keeps Rate at 3.75%

The Bank of England’s Monetary Policy Committee voted 6-3 to keep interest rates at 3.75%.

The central bank warned that the ongoing Middle East conflict and higher oil prices could add to inflationary pressures heading into the first quarter of 2027. Brent crude was trading above $103 per barrel.

Zcash Surges 17% as Liquidations Reach $345 Million

Zcash jumped more than 17% to nearly $1,358 during Asian morning trading on Thursday, outperforming other major cryptocurrencies, according to CoinDesk data.

Solana and Hyperliquid gained around 3% each, while BNB, Dogecoin and Ether rose roughly 2%. Bitcoin advanced 1% to slightly above $76,400, XRP gained about 1%, and Tron was little changed.

The Federal Reserve raised its target range by 25 basis points to 3.75%-4.00% on Wednesday. It was the first rate increase of the cycle, with markets pricing in roughly a 69% probability of the move beforehand.

Bitcoin showed little reaction to the decision. FxPro chief market analyst Alex Kuptsikevich said Bitcoin had already “overreacted negatively” to the CLARITY Act setback in the Senate, leaving it less vulnerable to a stronger dollar.

CoinGlass data showed that 86,816 traders were liquidated over the previous 24 hours, resulting in approximately $345 million in losses. Liquidations occur when exchanges forcibly close leveraged positions after traders’ collateral can no longer cover their losses.

Short positions accounted for $208 million of the liquidations, compared with $137 million for long positions, meaning traders positioned for further declines absorbed most of the losses.

Ether recorded nearly $89 million in liquidations, followed by Bitcoin at $85 million and Zcash at $56 million. The largest individual liquidation was an $18 million Bitcoin position closed on Hyperliquid.

Zcash’s $56 million in liquidations came against a market capitalization of roughly $23 billion. Traders will be watching whether leverage rebuilds through Thursday, as increased leverage has played a role in each stage of the recent rally.

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