Bitcoin, the largest digital asset in the crypto market, climbed to the 65000 dollar level supported by opportunistic buying after a sharp wave of losses in recent weeks. The rally was also backed by positive performance on Wall Street, which improved overall market risk appetite. Gains extended to most cryptocurrencies as selling pressure that had recently dominated trading began to ease.
Despite this rebound, Bitcoin remains nearly 50 percent below its record high reached in October. The outlook for a full recovery remains uncertain amid continued weakness in demand from both retail and institutional investors. Bitcoin rose more than 3 percent to trade around 65100 dollars after touching 66200 dollars during the session. Earlier in the week, it had fallen below 63000 dollars.
The cryptocurrency gains came alongside a recovery in US equities, particularly technology stocks, after concerns about the immediate impact of artificial intelligence developments on software companies began to ease. The digital asset market often moves in a similar direction to US technology stocks, although equities have significantly outperformed cryptocurrencies in recent months. Investors are also awaiting earnings results from NVIDIA Corporation, one of the main beneficiaries of the artificial intelligence boom, as its results may provide signals that influence technology shares and, by extension, the crypto market.
On the political front, investors monitored developments related to US tariffs following remarks by President Donald Trump, who reaffirmed his commitment to pursuing his tariff agenda despite legal criticism. He indicated his intention to move forward using alternative legal frameworks, while some measures would still require congressional approval, particularly if tariffs are expanded or extended.
Among alternative cryptocurrencies, Ethereum, the second largest digital asset by market capitalization, gained nearly 4 percent to trade close to 1890 dollars. XRP, Solana, Cardano, and BNB also posted gains of varying degrees, benefiting from renewed buying interest at lower levels. In the meme coin category, Dogecoin rose about 1.5 percent, while the TRUMP token advanced more than 4 percent amid improved short term investor sentiment.
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