Bitcoin · Tokenization · CoinDesk
Bitcoin rallies above $63,000, reversing end-June losses
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Bitcoin climbed above $63,000 in U.S. morning hours Saturday, up 1.4% over 24 hours and 3.6% on the week, per CoinDesk data, its highest in two weeks and a full reversal of the losses that closed out June.
Key facts
- XRP led the day's majors, up 5.3% to $1.18 and nearly 10% on the week, a move that lifted it past the USDC stablecoin to fifth place by market value at about $73 billion
- Bitcoin climbed above $63,000 in U.S. morning hours Saturday, up 1.4% over 24 hours and 3.6% on the week, per CoinDesk data, its highest in two weeks and a full reversal of the losses that closed out
- Bitcoin entered the third quarter at 21-month lows and has now recovered the ground lost in June's final slide
- Trading was thin on Saturday with U.S. markets shut for the Independence Day holiday, the kind of liquidity that exaggerates moves in both directions
Summary
Bitcoin climbed above $63,000 for the first time in two weeks, reversing late-June losses amid a modest rebound in crypto markets. The rally across major tokens followed a friendlier macro backdrop, including softer U.S. economic data and comments suggesting easing inflation risks, though thin holiday trading may be amplifying price moves. XRP led the day's majors, up 5.3% to $1.18 and nearly 10% on the week, a move that lifted it past the USDC stablecoin to fifth place by market value at about $73 billion. The gain came alongside onchain data showing XRP holders at their deepest average losses on record - the kind of washed-out positioning some traders buy against.