Bitcoin rebounded 3.5% to nearly $64,000, erasing losses tied to President Trump’s warnings on Iran and ending the week up 4.2%:
- Major cryptocurrencies mostly advanced alongside bitcoin, with ether and dogecoin higher on the day while solana remained the only large token still down for the week.
- Analysts say leverage-driven liquidations, a weaker dollar and a powerful rally in Asian semiconductor and AI-related stocks, rather than crypto-specific news, are driving bitcoin’s gains.
Bitcoin's best session of the week came out of Seoul and Tokyo:
The largest cryptocurrency rose 3.5% to nearly $64,000 on Friday, recovering the ground it lost when President Trump warned that strikes on Iran could intensify:
It traded as low as about $61,850 before buyers returned, and roughly $28 billion changed hands over 24 hours. Bitcoin is up 4.2% on the week, CoinDesk data shows:
Ether rose 2.6% to $1,760 and is up 4% on the week. Solana added 2.6% to $78 while still carrying a 2.1% weekly loss, the only major that has not clawed back to green:
Leverage explains the speed of the round trip. Traders cut positions on the Trump headline and reloaded within hours, a move too fast for real demand to have driven it:
“Once liquidations begin to drive price action, the market can move faster than real demand would justify,” said Shawn Young, chief analyst at MEXC Research:
MSCI's Asia Pacific equities gauge climbed 1.4% as investors moved back into semiconductor shares on renewed optimism over AI demand:
Gains were further extended as yen strengthened 0.6% and long-dated Japanese government bond yields fell:
Bitcoin absorbed an oil shock, a global bond selloff, a hawkish repricing of Fed expectations and two rounds of U.S. strikes on Iran, and finished up 4.2% because Korean memory chips are in demand and the dollar is losing ground:
