Bitcoin cleared $75,000 and reached $77,307 on Friday, adding nearly 8% in 24 hours and triggering more than $1.25 billion in additional short liquidations on top of the prior session's cascade. The drivers stacked on each other: Treasury bond market intervention, the SEC's proposed offering framework, and Trump's push for the Clarity Act. Hyperliquid's HYPE token was the standout, running from $60 to $78 after remarks about bringing the derivatives platform onshore.