Investing.com — Bitcoin rose above $63,000 on Saturday, recovering from recent losses as investors evaluated regulatory developments 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 05:02 ET (09:02 GMT) after falling below $63,000 earlier in the week.
The rebound comes after several days of volatility that saw leveraged traders unwind positions following the Federal Reserve’s latest policy meeting.
More than $450 million worth of leveraged crypto positions were liquidated over the past week, with long positions accounting for most of the losses.
Despite the recovery, sentiment remained cautious.
Options market activity continued to show demand for downside protection, while futures positioning indicated traders were preparing for further volatility in the near term.
Attention also remained focused on Strategy and its preferred stock offering, STRC, which has been closely watched by crypto investors in recent days.
Beyond market movements, governments continued to refine their approach to digital assets.
Ireland this week unveiled a national strategy targeting 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 stronger anti-money laundering controls.
In the United States, lawmakers are preparing for a June 25 congressional roundtable that will examine how cryptocurrencies can support financial access in countries facing economic instability or restrictive financial systems.
The discussion is expected to address the role of digital assets in national security, financial freedom, and U.S. competitiveness.
Meanwhile, Argentina introduced a crypto-friendly measure after President Javier Milei signed an executive order exempting registered virtual asset service providers from the country’s 1.2% cheque tax.
The move is expected to reduce costs for crypto users and encourage further development of digital asset products in one of Latin America’s most active cryptocurrency markets.
Taken together, the developments highlight the increasingly important role digital assets are playing in financial systems, regulatory frameworks, and policy discussions around the world, even as short-term market volatility persists.
Crypto price today: Altcoins rally higher on Saturday
Broader crypto prices rallied higher, but were set for a subdued weekly performance.
World no.2 crypto Ethereum rose 2.12% to $1,725.07, while XRP edged 2.02% higher.