Live: Bitcoin Surges Above $80,000 as U.S. Trading Fuels Rally

Another major central bank raised interest rates overnight, with the Bank of Japan delivering a hike. The move, however, did little to reverse the yen’s decline.

Bitcoin Approaches $81,000 as U.S. Stocks Fall and Treasury Yield Tops 5%

Bitcoin has climbed above $80,000, outperforming broader U.S. markets as major equity indexes trade lower. The Nasdaq 100, S&P 500 and Dow Jones Industrial Average are all in negative territory, while the iShares Russell 2000 ETF and iShares Expanded Tech-Software Sector ETF are also declining.

Crypto-related equities are moving in the opposite direction. Strategy has gained 11%, Coinbase is up 9% and Robinhood has advanced 7%.

Bond yields are also moving higher globally. The U.S. 10-year Treasury yield has returned above 5%, while benchmark yields in Germany, France and the U.K. are also climbing. The U.S. Dollar Index is edging higher toward 100.5, while precious metals are recording modest gains.

Bitcoin Clears $80,000 as U.S. Trading Begins

Bitcoin accelerated higher shortly after U.S. markets opened, moving above $80,000 and gaining about 5% over the previous 24 hours.

Earlier in the week, BTC had dropped toward $75,000 following the Senate’s failure to advance the CLARITY Act and the Federal Reserve’s rate hike.

Crypto-linked stocks are also extending their gains. Strategy is up 7.5%, Coinbase has climbed 5.5%, and Circle has added 5.7%.

ProCap Financial Set to Enter Russell 2000

ProCap Financial is scheduled to join the Russell 2000 on Monday, adding the company to one of the key U.S. small-cap benchmarks. It will also become part of the broader Russell 3000 index.

The company emerged during the 2025 wave of bitcoin treasury firms but has since shifted its business toward agentic finance. It plans to rebrand as Silvia under the ticker SVIA beginning September 22.

Despite the strategic change, the company continues to hold more than 5,000 BTC.

Yen Weakens Despite Bank of Japan Rate Increase

The Bank of Japan raised its policy rate by 25 basis points to 1.25%, but the yen continued to weaken. The currency has lost more than 1% against the dollar over the past 24 hours, with USD/JPY reaching 157.65.

The move puts additional pressure on Treasury Secretary Scott Bessent, who previously intervened to support the yen when the exchange rate was around 162. Since then, the yen has given back approximately half of its gains against the dollar.

The Federal Reserve also increased its benchmark rate by 25 basis points earlier this week, bringing the federal funds target range to 3.75%–4.00%. With additional Fed increases expected and the DXY holding above 100, further pressure on the yen remains possible.

Warren Buffett to Leave Berkshire Hathaway Chairmanship

Warren Buffett is stepping down as chairman of Berkshire Hathaway after 61 years at the helm of the roughly $1 trillion conglomerate. Buffett, now 96, announced the decision in a letter to shareholders on Friday, according to CNBC.

Although Buffett has been a well-known critic of bitcoin, he will remain involved with Berkshire as chairman emeritus and a board director. The company said his son, Howard Buffett, will succeed him as chairman, while Susan Decker will continue as lead independent director.

Buffett reflected on his departure by writing that time ultimately prevails, while expressing confidence in Berkshire’s future.

Risk Assets Advance Before U.S. Open

Risk assets were moving higher ahead of Friday’s U.S. session. The Invesco QQQ ETF gained 0.5% in premarket trading, while Bitcoin rose more than 2% and moved above $78,000.

Gold also advanced by another 1%, trading just below $4,400. The U.S. 10-year Treasury yield stood at 4.96%, while AI-focused equities and semiconductor-related ETFs were also posting gains.

Bullish, the parent company of CoinDesk, rose 3%, while Securitize gained 7%. Both extended their previous session gains after the SEC granted an innovation exemption supporting the trading of tokenized stocks.

Coinbase and Robinhood each gained about 5% on Thursday and added another 2% in Friday’s premarket session.

HYPE, ZEC and SOL Lead the Crypto Rally

Hyperliquid’s HYPE rose more than 11% to nearly $89 during Friday’s Asian morning session, making it the strongest performer among major cryptocurrencies, according to CoinDesk data.

Zcash’s ZEC climbed 8% to around $1,472, while Solana gained 6% to slightly above $106. BNB and Dogecoin each advanced about 4%, while XRP, Ether and Bitcoin gained around 2%. TRON was the weakest performer, rising less than 1%.

Bitcoin traded just below $78,000 after falling to $75,972 during U.S. trading, recovering the entire overnight decline and extending its winning streak to three days. The total cryptocurrency market capitalization increased 2% to approximately $2.66 trillion.

None of the 40 most liquid cryptocurrencies declined during the period, according to FxPro chief market analyst Alex Kuptsikevich. He said traders were cautiously turning their attention toward altcoins, although the broader altcoin season index remained subdued. NEAR led the group with a 30% gain, followed by UNI at 26% and APT at 18%.

The rally coincided with stronger equity markets and broader risk appetite, coming one day after the Fed’s quarter-point rate increase failed to trigger the market reaction that traditional assets had been anticipating.

Bitcoin is now approaching the upper boundary of its established trading range near $82,000. Kuptsikevich expects profit-taking ahead of the weekend could delay a test of that level.

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