U.S. stocks rose Friday as a surging bitcoin and resilient crypto stocks helped lift sentiment.

Crypto markets extended their sharp rebound on Aug. 20, with the total market capitalization climbing more than 5% to about $2.5 trillion as Bitcoin (BTC), Ether (ETH), and XRP moved higher.

If the stock market is up, bitcoin usually is too. But this year has been different.

Treasury Secretary Scott Bessent wanted to rescue the bond market but instead catalyzed a move higher for bitcoin. The intervention seemed to work better as a debasement signal than a bond trade. Long yields gave back half their drop within a day while bitcoin and gold moved higher.

Strategy (MSTR) stock jumped 7% Thursday as Bitcoin exceeded $71,000 after the White House crypto summit, despite reporting a major Q2 earnings miss.

Bitcoin bounced and global stocks clawed back some of their recent losses on Friday as investors assessed the US Treasury's efforts to push down long-term borrowing costs.

Tom Lee ranked 17 crypto stocks. Bitcoin miners barely track bitcoin, so check what your stock actually follows.

Stock Market Today: The Dow Jones index is climbing after a market sell-off. The price of bitcoin surges to over $77,000.