$BTC The price of Bitcoin (BTC) stabilizes around $84,000 at the time of writing this on Friday, having recovered nearly 2% so far this week. The recent announcement from the U.S. Securities and Exchange Commission (SEC) that Proof-of-Work (PoW) mining rewards are not securities could increase investor confidence in BTC.

Additionally, the Federal Reserve's (Fed) decision to keep interest rates unchanged and maintain its forecast for rate cuts for the year, along with a net inflow of $661.20 million from U.S. Bitcoin spot exchange-traded funds (ETFs), have supported Bitcoin's slight recovery this week.