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. The move comes as the halving cycle continues to constrain new supply — the April block reward reduction cut daily issuance to roughly 450 BTC — while exchange reserve drawdowns, now at multi-year lows, signal that coins are moving to cold storage rather than being held for sale. Bitcoin dominance ticked up to 49.2%, reflecting capital rotating into the largest asset as traders assess the macro backdrop of a slightly weaker U.S. dollar index and steady Treasury yields.

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 broad crypto rally reflects a risk-on shift in sentiment as traders shake off the end-of-quarter selling pressure, with spot Bitcoin ETF flows turning positive after two weeks of net outflows, adding roughly $300 million in net inflows over the past three sessions.

The move above $63,000 for Bitcoin is a key technical level, and live crypto prices and charts on NowPrice show how the market is reacting in real time. The next focus will be on whether Bitcoin can sustain above $63,000 and test resistance near $65,000, while XRP's rally may face headwinds if profit-taking emerges after the sharp weekly gain. On-chain data to watch includes miner breakeven levels — currently estimated near $52,000 for efficient operators — and whale concentration metrics, as wallets holding 1,000+ BTC have added 12,000 coins this month. A break above $65,000 would open the path to the $68,000–$70,000 zone, while failure to hold $63,000 could see a retest of the $60,000 support level that held during the end-June sell-off.