Bitcoin zips higher to nearly $64,000 as chip rally and yen strength drive gains
CoinDesk 2026-07-10 03:57:58
Context: Bitcoin's price rebounded 3.5% to nearly $64,000, driven by a rally in Asian semiconductor and AI-related stocks, a weaker dollar, and leverage-driven liquidations, rather than crypto-specific news. The cryptocurrency market saw significant gains, with major cryptocurrencies such as ether and dogecoin advancing alongside bitcoin. The price surge was fueled by a combination of factors, including a powerful rally in Asian semiconductor and AI-related stocks and a stronger yen.
Key Facts
- Bitcoin rose 3.5% to nearly $64,000 on Friday, recovering from losses tied to President Trump's warnings on Iran and ending the week up 4.2%, according to CoinDesk data.
- The largest cryptocurrency traded as low as about $61,850 before buyers returned, with roughly $28 billion changing hands over 24 hours.
- Ether rose 2.6% to $1,760 and is up 4% on the week, while solana added 2.6% to $78 but still carries a 2.1% weekly loss.
- MSCI's Asia Pacific equities gauge climbed 1.4% as investors moved back into semiconductor shares on renewed optimism over AI demand, cutting the week's loss to under 1%.
- The yen strengthened 0.6% and long-dated Japanese government bond yields fell after Finance Minister Satsuki Katayama said the government wants pension funds to increase their holdings of domestic assets.