Bitcoin held firm above the $63,000 mark over the weekend, marking its highest level in more than a month and extending a July rebound that has gained traction among crypto investors.
The price stability came despite thin trading volumes typical of the holiday period, suggesting underlying demand remains robust as market sentiment shifts toward a more accommodative monetary policy outlook.
On Friday, Bitcoin traded near $62,700, buoyed by softer-than-expected US labor market data that reinforced expectations for potential interest rate cuts later in the year.
The digital asset's ascent follows a series of positive technical breaks, including a reclaim of the $60,000 threshold earlier in the week.
On Friday, Bitcoin traded near $62,700, buoyed by softer-than-expected US labor market data that reinforced expectations for potential interest rate cuts later in the year.
This macroeconomic backdrop has provided a tailwind for risk assets, with crypto markets responding positively to the prospect of lower borrowing costs.
The recovery represents a notable shift from earlier pressures, where liquidity had been drained by volatility in chip stocks.