Bitcoin broke through $63k this morning, recovering from the late June decline, with XRP leading the gains among major cryptocurrencies.

BlockBeats News, July 5 – Bitcoin briefly broke above $63,000 this morning for the first time in two weeks, up about 3.6% from last week, and has largely recovered its late-June losses.

Due to low holiday liquidity, this rally occurred during the thin trading period of the US Independence Day holiday. The market generally believes that low liquidity has amplified short-term volatility.

Among major cryptocurrencies, XRP rose 5.3% to $1.18, gaining nearly 10% for the week, with a market cap of about $73 billion, overtaking USDC to become the fifth-largest crypto asset. On-chain data shows that the average loss level of XRP holders has reached an historical extreme, with some traders viewing it as a sign of a sentiment reversal.

ETH rose 3.2% on the day to about $1,793, with a weekly gain of about 11.5%; Dogecoin rose 2.6%; Solana rose about 13.2% for the week, continuing the overall rebound trend.

Analysts believe the current rebound is driven by Federal Reserve officials signaling easing inflation pressures, weaker non-farm payroll data, and short covering, with Bitcoin rapidly recovering from below $60k to above $63,000. The market's subsequent direction still depends on the upcoming US inflation data and the return of institutional liquidity after the holiday.