Quick overview

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The cryptocurrency market is posting gains this Friday despite lingering caution over the conflict in the Middle East and key U.S. inflation data. In that context, Bitcoin is rising 2.6% to above $72,200, according to Binance.

Ethereum is also advancing, gaining 3.2% to $2,143, while other altcoins are moving higher as well. Among them, Solana stands out with a 3.9% increase.

Regulatory signals support Bitcoin

Bitcoin’s latest gains came largely after the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission announced on Wednesday that they will collaborate to develop a more comprehensive regulatory framework for U.S. crypto markets.

At the same time, lawmakers in the United States Senate are attempting to revive the CLARITY Act, which aims to provide clearer oversight of digital assets.

The market reacted calmly to the latest U.S. inflation data, which showed annual inflation at 2.4% in February and 0.3% month-over-month, in line with expectations. Investors are now awaiting the Personal Consumption Expenditures Price Index, the inflation gauge preferred by the Federal Reserve, scheduled for release on Friday.

Oil and geopolitics remain key risks

The war in the Middle East has pushed energy prices to the forefront of global markets, fueling concerns about inflation just as central banks were beginning to consider easing monetary policy.

Tensions over oil supply and control of the Strait of Hormuz—through which roughly 20% of global oil supply passes—have driven crude prices above $100 per barrel since the escalation began.

Despite this environment, Bitcoin has gained nearly 10% this week. The cryptocurrency has posted five consecutive green candles and remains above its 200-week exponential moving average (EMA), a technical signal suggesting the market is beginning to view the asset as structurally stronger even during periods of heightened global uncertainty.

Institutional demand also remains firm. Bitcoin exchange-traded funds recorded net inflows of more than $500 million this week, indicating that large investors continue accumulating the asset despite macroeconomic volatility.