The cryptocurrency market capitalization increased by $135 billion today, accompanied by $400 million in leveraged short position liquidations over the past 12 hours. The rally follows the SEC's approval of limited on-chain trading for tokenized stocks and new CFTC rulemaking filings aimed at regulating the crypto market. Despite the bullish momentum, macroeconomic headwinds persist as the Federal Reserve is projected to raise interest rates by another 25 basis points next month. The simultaneous regulatory developments and market surge highlight growing institutional engagement even amid tightening monetary policy expectations.