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

Three developments shaped the crypto market this week. Bitcoin topped $87,000, extending its climb to a level that keeps the largest digital asset in focus for both institutional and retail participants. The move reflects continued appetite for crypto exposure, though sharp rallies have historically been followed by periods of consolidation.

On the regulatory side, the Federal Reserve is drafting rules for stablecoins, signaling that U.S. authorities are moving toward a formal framework for dollar-pegged tokens. Clearer rules could reduce uncertainty for issuers and exchanges, but the details — reserve requirements, oversight, and compliance costs — will determine how the market absorbs them.

Separately, Bitget was hit by a $351 million hack, a reminder that exchange security remains a persistent risk. The size of the loss puts it among the larger incidents in recent years.

What to watch: how stablecoin rulemaking takes shape, whether Bitcoin holds its new range, and how exchanges respond to the Bitget breach.