Bitcoin rises 6% as lower oil prices and SEC decision boost market

Bitcoin ripped 6% higher on September 18, crossing $81,000 after spending most of the week stuck in the $77,000-$78,000 range. The move came on the back of two catalysts that, individually, would have been notable. Together, they turned a sluggish week into something that felt a lot more like a breakout. The first catalyst: the SEC announced a new exemption allowing certain platforms to facilitate on-chain trading of tokenized stocks. The second: West Texas Intermediate crude oil, which had been hovering above $106 per barrel, finally started pulling back, easing inflation anxiety that had been weighing on risk assets for weeks. The SEC giveth, the Senate taketh away The SEC’s tokenized securities exemption landed on September 17, and the market wasted almost no time pricing it in. The decision opens a pathway for regulated platforms to offer traditional equities as blockchain-based tokens. The timing is particularly interesting given what happened earlier in the week. The Senate’s Clarity Act, which would have established a broader regulatory framework for digital assets, failed to clear the 60-vote threshold needed to advance. So the scorecard for the week: Congress couldn’t get ...