Bitcoin Climbs Above $63,000, Erasing Late-June Losses

Bitcoin pushed above $63,000 during thin trading on July 4, marking its highest level in two weeks and fully reversing the losses that closed out June. The token was up 1.4% over 24 hours and 3.6% for the week, though prices eased back toward $62,000 by Sunday. Low liquidity from the U.S. holiday shutdown likely amplified the swing in both directions.

XRP Leads Gains Among Major Tokens

XRP was the standout performer, rising 5.3% to $1.18 and nearly 10% over the past week. The move pushed XRP past USDC in market value, placing it fifth among all cryptocurrencies at roughly $73 billion. Onchain data pointed to XRP holders sitting at some of their steepest average losses on record, a setup some traders view as a signal to buy into oversold conditions.

Ether rose 3.2% on the day to near $1,793, bringing its weekly gain to 11.5%. Dogecoin added 2.6%, while Solana held around $82.50 after climbing 13.2% over the week.

Macro Backdrop Supports the Rebound

The rally builds on a more favorable macro tone this week. Comments from Federal Reserve Chair Kevin Warsh suggesting inflation risks have eased, combined with a soft June jobs report and pressure on short sellers, helped push bitcoin from under $60,000 to above $63,000 within five trading sessions.

What Comes Next

Bitcoin had entered the third quarter at a 21-month low before this recovery. Whether the rebound continues will likely depend on the next U.S. inflation report and how trading desks position once normal volume returns after the holiday.