Robinhood stock rises 12% as Bitcoin climbs to $77,703

1 min read | Published on 21 Aug 2026, 09:04 PM |Updated on 21 Aug 2026, 09:04 PM

Reviewed by

Ritika DScanX News Team

Add as a preferred
source on Google

Key Highlights

Robinhood Markets stock rose more than 12% on Friday
Bitcoin surged 7.52% to $77,703.74, outperforming broad indices
White House crypto summit featured regulators and industry leaders
President Trump urged passage of the CLARITY Act for digital assets
HOOD trades above key SMAs with resistance at $120.50

*this image is generated using AI for illustrative purposes only.

Robinhood Markets Inc (NASDAQ: HOOD) shares rose more than 12% on Friday, driven by a sharp rally in Bitcoin and renewed optimism regarding U.S. cryptocurrency regulation.

Bitcoin gained 7.52% over the past 24 hours to reach $77,703.74, according to CoinMarketCap data. In contrast, broader equity markets showed minimal movement, with the Nasdaq up 0.02% and the S&P 500 gaining 0.28%.

White House Crypto Summit Boosts Sentiment

Market sentiment improved following policy updates from a White House cryptocurrency summit held on Wednesday. The meeting featured CFTC Chairman Michael Selig, SEC Chairman Paul Atkins, and executives from Coinbase Global Inc (NASDAQ: COIN), Robinhood, Ripple, and Kalshi.

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

Robinhood Technical Analysis

HOOD is trading above its 20-day SMA of $93.81, 50-day SMA of $100.28, 100-day SMA of $89.80, and 200-day SMA of $96.07. This positioning keeps the intermediate trend pointed higher despite recent volatility.

However, the 20-day SMA remains below the 50-day SMA, signaling a weaker short-term setup. Bulls may look for the shorter-term average to turn higher.

The stock is approaching an area where its rally could face resistance after the sharp move.

Technical Level	Price
Key resistance	$120.50
Key support	$93

HOOD Stock Price Activity: Robinhood Markets shares were up 11.60% at $106.14 at the time of publication Friday, according to Benzinga Pro data.

How might the passage of the CLARITY Act specifically alter Robinhood's compliance costs and product offerings for digital assets?

Could the divergence between Bitcoin's rally and broader equity market stagnation signal a decoupling of crypto-linked stocks from traditional tech valuations?

What is the likelihood that HOOD will break through the $120.50 resistance level if the 20-day SMA crosses above the 50-day SMA in the coming weeks?

Robinhood stock reverses premarket gains amid crypto policy debate

1 min read | Published on 20 Aug 2026, 11:33 PM |Updated on 20 Aug 2026, 11:33 PM

Reviewed by

Ritika DScanX News Team

Add as a preferred
source on Google

Key Highlights

Robinhood Markets (HOOD) shares fell 1.32% to $94.51, reversing a 5.77% premarket gain to $101.30
The move followed a White House crypto policy summit attended by regulators and industry executives
President Trump urged Congress to pass the CLARITY Act for digital asset regulatory standards
Fundstrat’s Mark Newton clarified Tom Lee’s “avoid” call was based on technical consolidation

*this image is generated using AI for illustrative purposes only.

Robinhood Markets Inc. (NASDAQ: HOOD) shares fell 1.32% to $94.51 on Thursday, erasing an earlier premarket gain of 5.77% that had lifted the stock to $101.30.

The reversal occurred against a backdrop of broader market declines, with the Nasdaq down 0.56% and the S&P 500 losing 0.37%. The trading activity followed developments from a White House summit on cryptocurrency policy held Wednesday.

Crypto Policy Summit Lifts Sentiment

Cryptocurrency-related stocks initially gained momentum following policy updates from the summit. The meeting included CFTC Chairman Michael Selig, SEC Chairman Paul Atkins, and executives from Coinbase Global Inc., Robinhood, Ripple, and Kalshi.

President Donald Trump reiterated his commitment to U.S. leadership in cryptocurrency and urged Congress to pass the CLARITY Act, legislation intended to establish regulatory standards for digital assets.

Tom Lee’s Avoid Call Sparks Debate

The stock drew attention on X following a CNBC panel discussion about Tom Lee, co-founder of Fundstrat Global Advisors and Chairman of Bitmine Immersion Technologies. Lee recently named HOOD as a stock to avoid in 2026.

User Dr. Crossroads questioned the call, pointing to factors including the expected end of the crypto winter, prediction markets, and Robinhood’s international expansion.

Mark Newton, Global Head of Technical Strategy at Fundstrat, clarified that HOOD’s placement was based on a monthly technical ranking rather than a recommendation to short or avoid the stock.

“The bottom 5 are not ‘shorts’ per se, or avoids,” Newton said, adding that HOOD’s chart is in consolidation and could take time for its fundamentals to materialize.

How might the passage of the CLARITY Act specifically impact Robinhood's revenue model for digital asset trading fees?

What are the key metrics investors should monitor to determine if Robinhood's international expansion efforts will offset domestic regulatory headwinds?

Could the clarification from Fundstrat regarding HOOD's technical ranking influence short-term institutional positioning or retail sentiment?