Bitcoin Breaks $80,000 as Altcoins Gain Amid SEC Regulatory Shift

Bitcoin (BTC) is showing strength, driving gains across altcoins as well. The upward momentum follows recent regulatory changes by the U.S. Securities and Exchange Commission (SEC).

As of 10:51 p.m. KST on October 18, Bitcoin was trading at $84,500 on Binance, up approximately 5% from the previous day.

Altcoins saw even stronger gains. According to CoinMarketCap, NEAR surged by 31.11%, ARB rose 29.84%, UNI climbed 25.12%, and APT increased 20.76%. ETHFI gained 18.26%, while JUP and INJ rose 17.40% and 17.29%, respectively.

The altcoin rally is attributed to improved investor sentiment following the SEC's announcement of a temporary 'innovation exemption' allowing tokenized stock trading for up to five years. Market participants anticipate increased demand for blockchain infrastructure supporting such transactions.