Bitcoin surged past the $64,000 mark this week, staging a remarkable recovery that lifted the broader cryptocurrency market despite a series of bearish developments. After dipping below $58,000 earlier in the period for the first time in nearly two years, BTC steadily climbed, briefly touching $64,500, representing a 3.5% weekly gain.
The rally unfolded even as major headwinds tested investor sentiment. Strategy (formerly MicroStrategy), the largest corporate holder of bitcoin, announced its second sale in under two months, offloading over 3,500 BTC. The move initially sent bitcoin tumbling to $61,200, but unlike a similar sell‑off in June, buyers quickly stepped in, pushing the price higher. Additionally, renewed US‑Iran military strikes in the Middle East and the US president’s declaration that a previous memorandum of understanding was void triggered a mid‑week dip to $61,600. Bitcoin’s ability to absorb these shocks and resume its uptrend suggested that underlying demand remains robust.
Ethereum also posted a solid 2.7% weekly gain, trading near $1,800, as anticipation grew for the upcoming Glamsterdam upgrade, which analysts believe could catalyze a sharp rebound despite sagging social interest. Meanwhile, Ripple (XRP) received a major regulatory boost after obtaining a full MiCA license from Luxembourg’s financial regulator, allowing it to offer regulated crypto payments across the European Economic Area. This helped XRP hold above $1.11, though it was slightly negative for the week.
The positive momentum was not limited to large caps. Smaller tokens like SKALE (SKL) exploded 61.9% in a single day, supported by over $67 million in trading volume. Other notable movers included TAC, Talus, Victoria VR, and Cash Cat, all posting double‑digit rallies. The broad advance lifted the total cryptocurrency market capitalization to $2.29 trillion, with Bitcoin dominance at 56.5%.
Additional developments reinforced the constructive tone. Bitmine, the former bitcoin miner, purchased another 42,197 ETH, bringing its total to 4.8% of Ethereum’s circulating supply, while Solana’s recent FUD generated analyst speculation of a potential bullish reversal. Even Dogecoin joined the party with a 1.3% gain. Overall, the synchronized gains across Bitcoin, Ethereum, XRP, Solana, and a raft of smaller tokens signaled a market that was broadening its recovery despite a challenging macro and corporate backdrop.
