Robinhood Shares Surge 12% Friday on Bitcoin Rally and Crypto Regulatory Optimism

Robinhood Markets Inc. shares surged over 12% on Friday, driven by a sharp rebound in Bitcoin and optimism over the U.S. cryptocurrency regulatory outlook.

According to CoinMarketCap data, Bitcoin rose 7.52% over the past 24 hours to $77,703.74. Meanwhile, the Nasdaq Composite gained 0.02%, and the S&P 500 rose 0.28%.

White House Crypto Summit Boosts Sentiment

Cryptocurrency sentiment gained momentum following policy updates from Wednesday's White House Crypto Summit.

The meeting included CFTC Chairman Michael Selig, SEC Chairman Paul Atkins, and executives from Coinbase Global Inc., Robinhood, Ripple, and Kalshi.

President Trump reiterated his support for U.S. leadership in the cryptocurrency space. He also urged Congress to pass the CLARITY Act, which would establish regulatory standards for digital assets.

Robinhood Technical Analysis

HOOD shares are trading above their 20-day simple moving average of $93.81, 50-day simple moving average of $100.28, 100-day simple moving average of $89.80, and 200-day simple moving average of $96.07. Despite recent volatility, this keeps the medium-term trend pointed upward.

However, the 20-day simple moving average remains below the 50-day simple moving average, indicating a weaker short-term setup. Bulls may look for the short-term averages to turn higher.

The stock is also approaching a zone where the rebound could face resistance, following a sharp run-up.

Key resistance level: $120.50, a nearby level where the rebound could stall.

Key support level: $93, near the recent trading range and the 20-day simple moving average.

HOOD price action: Robinhood Markets stock was up 11.60% at $106.14 at the time of publication Friday.