Bitcoin rose above $63,000 on Saturday, recovering from recent losses as investors assessed regulatory changes in major markets and signs of continued institutional interest in digital assets.
The world's largest cryptocurrency was trading up 1.72% at $63,453.3 as of 12:02 PM, after falling below $63,000 earlier in the week.
The rebound came after several days of volatility as leveraged traders closed positions following the Federal Reserve's latest policy meeting.
Over $450 million in leveraged crypto positions were liquidated in the past week, with long positions accounting for the majority of the losses.
Despite the recovery, sentiment remained cautious. Options market activity continued to demonstrate demand for downside protection, while futures market positioning indicated traders were bracing for further volatility in the near future.
Attention also remained focused on Strategy and its preferred shares, STRC, which have been closely watched by crypto investors in recent days.
Beyond market movements, governments continued to refine their approach to digital assets.
This week, Ireland unveiled a national strategy to combat money laundering and financial crime, with crypto assets identified as a key area of focus. The initiative includes enhanced oversight of digital asset platforms and stricter anti-money laundering measures.
In the United States, lawmakers are preparing for a congressional roundtable on June 25 to examine how cryptocurrencies can promote financial inclusion in countries facing economic instability or restrictive financial systems. The discussion is expected to address the role of digital assets in US national security, financial freedom, and competitiveness.
Meanwhile, Argentina introduced a crypto-friendly measure after President Javier Miley signed an executive order exempting registered virtual asset service providers from the country's 1.2% check tax.
This move is expected to reduce costs for crypto users and facilitate the further development of digital asset products in one of Latin America's most active cryptocurrency markets.
Taken together, these developments highlight the increasingly important role digital assets play in financial systems, regulatory frameworks, and policy discussions around the world, even as short-term market volatility persists.
Cryptocurrency Prices Today: Altcoins Rise on Saturday
The broader cryptocurrency market rose but was on track for a subdued weekly performance. The world's second-largest cryptocurrency, Ethereum, rose 2.12% to $1,725.07, while XRP climbed 2.02%.
Solana rose 4.56%, Cardano increased 2.23%, and BNB gained 2.68%.
Among memecoins, Dogecoin rose 2.22%, while $TRUMP lost 0.66%.