BlockBeats news, on July 5, Bitcoin rose above $63,000 this morning for the first time in two weeks, up approximately 3.6% from last week and largely recovering its losses from the end of June.
Affected by low liquidity during the holiday period, this rally occurred during the thin trading days of the U.S. Independence Day holiday. The market generally believes that low liquidity amplified short-term volatility.
Among major cryptocurrencies, XRP rose 5.3% to $1.18, gaining nearly 10% for the week, with its market cap rising to approximately $73 billion, surpassing USDC to become the fifth-largest crypto asset. On-chain data shows that the average loss level among XRP holders has reached an extreme historical low, which some traders view as a sentiment reversal signal.
ETH rose 3.2% today to approximately $1,793, with a weekly gain of about 11.5%; Dogecoin increased 2.6%; Solana rose approximately 13.2% for the week, continuing the overall rebound trend.
Analysis suggests that this rally was driven by comments from Federal Reserve officials indicating easing inflationary pressures, weaker non-farm payroll data, and short-covering, pushing Bitcoin back above $63,000 from below $60,000. Future market movements will continue to depend on the upcoming U.S. inflation data and the return of institutional liquidity after the holiday period.