Live updates: Bitcoin climbs over $80,000 as crypto shakes off Clarity failure and higher interest rates

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Another central bank hiked rates overnight, this time the Bank of Japan. The move failed to halt the slide in the yen.

By Shaurya Malwa, James Van Straten, and Stephen Alpher|Edited by Stephen Alpher

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Bitcoin is above $80,000, standing out in the green as broader U.S. equities trade in the red. The Nasdaq 100, S&P 500 and Dow Jones Industrial Average (DJI) are all lower, alongside the iShares Russell 2000 ETF (IWM) and iShares Expanded Tech-Software Sector ETF (IGV).

Crypto-linked stocks are also surging. Strategy (MSTR) is up 11%, Coinbase (COIN) has gained 9% and Robinhood (HOOD) is up 7%.

Global bond yields are rising again, with the U.S. 10-year Treasury yield back above 5% and yields moving higher in Germany, France and the UK. The U.S. Dollar Index (DXY) is edging higher and approaching 100.5, while metals are posting modest gains.

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Bitcoin (BTC) is on the move higher in the opening minutes of the U.S. market day, climbing above $80,000, up 5% over the past 24 hours.

Earlier in the week — amid the failure of the Clarity Act and the Federal Reserve rate hike — bitcoin had fallen back to $75,000.

Among crypto-related stocks moving higher: Strategy (MSTR) is up 7.5%, Coinbase (COIN), up 5.5%, Circle (CRCL), up 5.7%.

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Effective Monday, ProCap Financial (BRR) will join the Russell 2000, a key small-cap index. The stock will also be included in the Russell 3000.

Originally launched amid the bitcoin treasury company mania of 2025, ProCap has changed its business model to agnetic finance. It will be rebranded as Silvia, with new ticker SVIA, effective Sept. 22. The company does continue to hold more than 5,000 bitcoin.

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Despite the Bank of Japan raising interest rates by 25 basis points to 1.25%, the Japanese yen has weakened by more than 1% over the past 24 hours, with USD/JPY now at 157.65.

This puts renewed pressure on Treasury Secretary Scott Bessent, who initially intervened to support the yen when USD/JPY was around 162. The yen has now surrendered roughly half of its gains against the dollar since that intervention.

The Federal Reserve also raised rates by 25 basis points earlier in the week, taking the federal funds target range to 3.75% to 4.00%. With further Fed hikes expected and the U.S. Dollar Index (DXY) remaining above 100, the yen could face additional pressure.

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Warren Buffett is stepping down as chairman of Berkshire Hathaway, the $1 trillion conglomerate he has led for 61 years. The 96-year-old, globally renowned investor announced his decision in a letter to shareholders Friday, CNBC reported.

Buffett, who famously dislikes bitcoin, will remain at Berkshire as chairman emeritus and a director on the board, the company said in a separate announcement. His son, Howard Buffett, who has not publicly stated a position on cryptocurrencies, will take his place as chairman, Berkshire said. Susan Decker will continue as lead independent director.

“Father Time always wins,” wrote Buffett in the statement. “He has, however, been generous with me. He has given me the opportunity to see Berkshire reach a point where I am more confident than ever about what lies ahead.”

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Risk assets are moving higher ahead of Friday’s U.S. market open. The Invesco QQQ ETF is up 0.5% in pre-market trading, while bitcoin has gained more than 2%, pushing above $78,000. Gold is also advancing, rising another 1% to just below $4,400.

Meanwhile, the U.S. 10-year Treasury yield stands at 4.96%. AI-related stocks are edging higher, with memory and semiconductor ETFs both posting gains.

CoinDesk parent Bullish (BLSH) and Securitize (SECZ) are up 3% and 7%, respectively, extending Thursday’s strong gains following news that the SEC granted an innovation exemption to facilitate trading in tokenised stocks.

Coinbase (COIN) and Robinhood (HOOD) also benefited from the announcement, each gaining around 5% on Thursday. Both are up another 2% in Friday’s pre-market trading.

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Hyperliquid’s HYPE rose more than 11% to nearly $89 as of Asian morning hours Friday, the strongest move among the majors, according to CoinDesk data. Zcash’s ZEC added 8% to roughly $1,472 and Solana’s SOL 6% to just above $106.

BNB and DOGE each gained about 4%, with XRP, ether and bitcoin up 2%. TRX was the laggard at under 1%.

Bitcoin traded just below $78,000 after touching $75,972 during U.S. hours, recovering the whole of that overnight drop and marking a third consecutive day of gains. Total crypto market value rose 2% to roughly $2.66 trillion.

None of the 40 most liquid coins fell over the period, according to FxPro chief market analyst Alex Kuptsikevich, who said traders are “cautiously shifting their focus towards altcoins” even with the altcoin season index still subdued. NEAR led that group at 30%, followed by UNI at 26% and APT at 18%.

The move came with equities rising and a broader appetite for risk, a day after the Fed’s quarter-point hike landed without the reaction traditional markets had braced for.

Bitcoin faces the upper edge of its established trading range near $82,000. Kuptsikevich expects profit-taking into the weekend to delay any attempt at it.