Bitcoin jumps above $63,000, reversing end-June losses

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.

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. Ether added 3.2% on the day to about $1,793, up 11.5% over seven days, while dogecoin rose 2.6% and solana held near $82.50 with a 13.2% weekly gain.

The surge extended a week built on a friendlier macro turn. Fed Chair Kevin Warsh’s comment that inflation risks have come down, a soft June jobs report and a squeeze on bearish traders carried bitcoin from below $60,000 to above $63,000 in five sessions.

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.

Bitcoin entered the third quarter at 21-month lows and has now recovered the ground lost in June’s final slide. Whether the momentum holds turns on the coming U.S. inflation print and on whether buying continues once U.S. desks return from the holiday.