Bitcoin Rebounds Above $64,000, Poised for Weekly Gain on Tech-Led Rally

Bitcoin's price climbed above $64,000 on Friday, recovering from earlier losses to head for a weekly gain as a broader rally in technology stocks bolstered risk appetite across financial markets.

Risk-On Sentiment Lifts Crypto

The world's largest cryptocurrency rose 1.2% to $64,005.7 by 18:00 ET (22:00 GMT), after hitting an intraday high of $64,673.1, according to data from Investing.com. The advance puts Bitcoin on track for a weekly increase of more than 2%.

The cryptocurrency's recovery mirrored strong performance on Wall Street, where the tech-heavy NASDAQ Composite index gained nearly 2% for the week. Analysts noted that Bitcoin continues to trade largely as a high-beta risk asset, often moving in line with equities when market sentiment is positive. An easing of military tensions between the U.S. and Iran also contributed to the improved mood among investors.

Altcoin Performance Remains Mixed

While Bitcoin posted a strong recovery, performance across the broader altcoin market was uneven, with several major tokens set to end the week lower.

Ad

• Ethereum (ETH): Increased 2.7% to $1,795.14, ending the week up 2.1%.
• XRP: Gained 0.8% on Friday but was down 2% for the week.
• Solana (SOL) and Cardano (ADA): Posted weekly losses of 5.2% and 6.6%, respectively.
• Dogecoin (DOGE): Added 1.5% during the session but finished the week down 4.5%.

Regulatory Milestone for USDC Issuer Circle

In a significant industry development, Circle Internet Financial received final approval from the U.S. Office of the Comptroller of the Currency (OCC) to operate a national trust bank. The charter allows the USDC stablecoin issuer to serve as a custodian for its reserves and hold crypto assets for institutional clients under direct federal supervision.

"OCC approval to establish Circle National Trust marks a defining step in bringing blockchain technology and digital assets into the core of the U.S. financial system," said CEO Jeremy Allaire. Shares of Circle (CRCL) ended the day 5% higher following the news. Market participants continue to watch for signs of institutional adoption, with inflows into U.S. spot Bitcoin ETFs remaining a key price driver this year.