Bitcoin zips higher to nearly $64,000 as chip rally and yen strength drive gains
Bitcoin prices recovered to nearly $64,000 as market sentiment improved following a brief dip caused by geopolitical tensions. The rally was supported by broader gains in semiconductor stocks and shifts in Japanese financial policy, despite a lack of crypto-specific catalysts.
Why it matters
The market's rapid recovery demonstrates the influence of macroeconomic factors and AI-driven equity trends on cryptocurrency price volatility.
The largest cryptocurrency rose 3.5% to nearly $64,000 on Friday, recovering the ground it lost when President Trump warned that strikes on Iran could intensify. It traded as low as about $61,850 before buyers returned, and roughly $28 billion changed hands over 24 hours. Bitcoin is up 4.2% on the week, CoinDesk data shows.
Ether rose 2.6% to $1,760 and is up 4% on the week. Solana added 2.6% to $78 while still carrying a 2.1% weekly loss, the only major that has not clawed back to green. XRP gained 2.2%, TRON climbed 1.2% and leads the majors at 4.7% over seven days, hyperliquid's HYPE added 1.8% to $68, and dogecoin rose 2.6% while remaining 0.8% underwater on the week.
Leverage explains the speed of the round trip. Traders cut positions on the Trump headline and reloaded within hours, a move too fast for real demand to have driven it.
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