Bitcoin tops $87K, Fed drafts stablecoin rules, Bitget hit by $351M hack | Weekly recap - Crypto News

Bitcoin traded above $87,000 during the week, extending a period of elevated prices for the largest cryptocurrency by market capitalization. Moves of this scale tend to draw attention from both long-term holders and newcomers, and they often shape sentiment across the broader digital asset market, where bitcoin remains the dominant reference point.

In parallel, the Federal Reserve has been drafting rules concerning stablecoins, according to reports. Stablecoins are tokens designed to hold a steady value, typically pegged to the U.S. dollar, and they play a central role in crypto trading and payments. Regulatory frameworks matter because they can affect how these tokens are issued, backed, and used, which in turn influences liquidity and market structure.

Separately, Bitget was hit by a hack totaling $351 million, a reminder that exchange security remains a persistent risk. For market observers, the key threads to watch are whether bitcoin holds its recent range, how the Fed's stablecoin proposals take shape, and how exchanges respond to security incidents.