BlockBeats News, July 5th. This morning, Bitcoin briefly rose above $63,000, marking the first time in two weeks, with a gain of about 3.6% compared to last week, and essentially recovering from the decline at the end of June.

Due to the holiday-induced low liquidity, this round of gains occurred during a quiet trading period on the U.S. Independence Day holiday. The market generally believes that the low liquidity has magnified short-term volatility.

As for mainstream coins, XRP rose by 5.3% to $1.18, with a weekly gain of nearly 10%. Its market value rose to around $73 billion, surpassing USDC to become the fifth largest cryptocurrency. On-chain data shows that the average loss of XRP holders has reached a historical extreme level, and some traders see it as a signal of sentiment reversal.

ETH rose by 3.2% to around $1,793 on the day, with a weekly gain of about 11.5%; Dogecoin rose by 2.6%; Solana saw a weekly gain of about 13.2%, continuing its rebound trend.

Analysis believes that this round of rebound was supported by statements from Federal Reserve officials indicating a relief in inflation pressure, weak non-farm payroll data, and short covering, causing Bitcoin to quickly rise from below $60,000 to above $63,000. The subsequent market trend still depends on the upcoming U.S. inflation data and the return of institutional liquidity after the holiday.