Bitcoin climbed above $63,000 in US morning hours on Saturday, up 1.4% over 24 hours and 3.6% on the week, per CoinDesk data, the highest in two weeks and a full reversal of the losses that closed June.
XRP led the day’s majors, up 5.3% to $1.18 and up nearly 10% on the week, a move that lifted it past the USDC stablecoin into fifth place by market capitalization at around $73 billion.
The gains came alongside onchain data showing XRP holders with their deepest average losses ever — the kind of washed-out positioning that some traders are buying against. Ether added 3.2% on the day to around $1,793, up 11.5% over seven days, while dogecoin gained 2.6% and solana held close to $82.50 for a weekly gain of 13.2%.
The gain extended a week based on a friendlier macro turn. Fed Chairman Kevin Warsh’s comment that inflation risks have receded, a soft June jobs report and pressure on bearish traders took bitcoin from below $60,000 to above $63,000 in five sessions.
Trading was thin on Saturday with US markets closed for the Independence Day holiday, the kind of liquidity that exaggerates moves in both directions.
Bitcoin entered the third quarter at a 21-month low and has now recovered what it lost in June’s last slide. Whether the momentum lasts depends on the coming US inflationary pressures and whether the buying continues when US desks return from the holidays.
