Bitcoin and Ethereum closed the trading week of July 6-10 with solid gains, rebounding from midweek volatility as improving risk sentiment, easing oil prices and renewed optimism surrounding artificial intelligence (AI)-driven technology stocks lifted demand for digital assets.
Bitcoin rose about 4.2% over the week to trade near US$64,000, recovering from a dip below US$62,000 sparked by renewed geopolitical tensions involving the US and Iran. The world’s largest cryptocurrency found support as buyers returned, with analysts attributing the rebound to a weaker US dollar, short-covering and improving sentiment across global equity markets.
Ethereum also advanced, climbing around 4% over the same period to approximately US$1,760, tracking Bitcoin’s recovery as investors regained confidence in risk assets. Most major cryptocurrencies ended the week in positive territory, although gains were more modest than the previous week’s rally.
Despite the upbeat finish, market participants remained cautious amid lingering concerns over geopolitical developments and the outlook for US monetary policy.
Analysts said the latest rebound was driven more by improving macroeconomic conditions than crypto-specific catalysts, with investors continuing to monitor institutional fund flows and broader market sentiment for clues on the sector’s next move.
