Bitcoin Rises Above $63,000 as Fed Concerns Ease
Introduction: A Monday That Started in the Green
Monday, Asian trading session. Traders in Tokyo, Singapore, and Hong Kong open their terminals and see a familiar picture. Bitcoin is back in the green. $63,227.5 — that is the current price of the world’s leading cryptocurrency, gaining 0.8% in the morning and continuing the rally that began last week. This is not just a move — it is a return of confidence after several weeks of chaos, during which Bitcoin fell to a 21-month low below $58,000.
What changed? The main driver is the shift in expectations regarding the Federal Reserve’s policy. Weak U.S. labor market data for June and comments from Fed Chair Kevin Warsh about declining inflation convinced investors that the regulator is unlikely to raise rates this year. This means liquidity will remain high, while risk assets, including cryptocurrencies, will continue to attract demand.
But macroeconomics is not the only factor supporting Bitcoin. The renewed inflow of funds into spot Bitcoin ETFs after several weeks of outflows became another signal that institutional investors are returning to the market. The $221.7 million in inflows recorded last week ended a 10-day streak of outflows and changed market sentiment.
Over the past week, Bitcoin has risen by roughly 5%. This is not an impressive result compared with years when it doubled in a month, but it is important as a change in trend. After a prolonged decline, even a modest recovery is perceived as a victory. But is this growth sustainable? Analysts warn that trading volumes remain relatively low, and further ETF inflows and favorable macroeconomic data will likely be needed to maintain the upward momentum.
Altcoins are also feeling confident. Ethereum rose 0.7% to $1,775.92. XRP gained 0.6% to $1.14. Even meme tokens such as Dogecoin increased by 1.4%. On...