$MARA Bitcoin rallied above $80,000 on Friday, gaining roughly 5.5% over 24 hours and recovering from a slide toward $75,000 earlier in the week. The recovery followed the Federal Reserve's first rate hike since July 2023 and the SEC's approval of a five-year exemption for tokenized stock trading, developments that broadly lifted crypto-linked equities.

MARA Holdings (MARA) traded at $13.24, up 13.59% on the day. The company holds a large bitcoin position and trades as a high-beta proxy for the asset, so its move tracked the broader crypto rally. No fresh company-specific disclosure was reported; the stock's advance reflected bitcoin's price action.

Morgan Stanley analyst Stephen Byrd raised the firm's price target on MARA to $11 from $6, keeping an Underweight rating. The revision was driven by bitcoin's approximately $10,000 rally since the firm's last update and the ERCOT classification of the recently acquired Matagorda site as Studied Load, which the analyst assigned a 20% probability of energization. The target remains below the current share price, reflecting divided views on the company's transition and valuation.

On the regulatory front, the CLARITY Act, which would have set which U.S. agency oversees digital assets, failed to advance in a Senate procedural vote by 49 to 50. The bill had been viewed as a potential policy catalyst for crypto-linked equities, and its setback leaves the regulatory framework unresolved. The SEC's exemption, issued the same week, provides a temporary path for tokenized stock trading but does not address the broader jurisdictional questions the legislation sought to answer.

NFA ✔️ DYOR 🔎

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