Bitcoin jumps above $63,000 as XRP leads rebound
Bitcoin jumps above $63,000, reversing end-June losses as sentiment in major crypto assets improves. In U.S. morning trading on July 4 (thin holiday liquidity), BTC rose about 1.4% in 24 hours and 3.6% for the week to trade at its highest level in two weeks.
XRP led the move, gaining 5.3% to around $1.18 and nearly 10% on the week. The upside lifted XRP past USDC to become the fifth-largest cryptocurrency by market value (about $73B). On-chain data cited in the report notes XRP holders are at their deepest average losses on record—conditions traders often view as “washed-out” positioning that can improve risk-reward for dip buyers.
Ethereum added strength as well, up around 3.2% on the day and about 11.5% over seven days to roughly $1,793. Dogecoin rose about 2.6%, while Solana held near $82.50 with a 13.2% weekly gain.
The rally is linked to a friendlier macro backdrop: softer U.S. economic data and remarks from Fed chair Kevin Warsh suggesting inflation risks have eased. However, the article warns that trading was thin due to Independence Day closures, which can exaggerate price swings.
Traders should watch the next U.S. inflation print and whether spot/derivatives buying persists once liquidity returns, since Bitcoin’s recovery from late-June weakness may be sensitive to fresh macro data.
Bullish
Bitcoin reclaimed the key psychological level above $63,000, and the move is supported by cross-market breadth (XRP, ETH, SOL, DOGE all rising). The macro catalyst cited—easing inflation-risk commentary plus softer U.S. data—typically improves risk appetite, which can draw both spot and derivatives buying.
XRP’s “deep average losses on record” adds a contrarian tailwind. Similar setups have historically preceded sharp rebounds when bearish positioning is forced out and buyers regain a better entry.
Still, liquidity is thin due to the Independence Day holiday, raising the risk of exaggerated price action. That means the impact may be strongest short-term (momentum continuation) but requires confirmation. In the near term, watch whether BTC holds above $63k as U.S. desks reopen. Longer term, sustained direction will likely depend on the next U.S. inflation print and whether macro expectations continue to shift toward lower inflation risk, supporting a continued recovery from late-June lows.