Bitcoin (BTC) climbed back above the US$60,000 threshold on Friday, attempting to stabilize a recovery after a period of broader market decline.
The digital asset found temporary support in the $62,000 range earlier in the week, marking a modest rebound from previous session lows.
This latest move suggests that buyers are stepping in at key psychological levels, even as overall market sentiment remains cautious.
The upward pressure on Bitcoin was primarily driven by a weakening US dollar, which often provides a tailwind for risk assets and cryptocurrencies.
However, the rally faced headwinds from continued outflows in spot Bitcoin ETFs, indicating that institutional demand remains tepid.
Additionally, broader concerns about weak demand in the crypto sector have limited the upside potential, keeping the price action contained within a narrow trading band.