Bitcoin Soars to Nearly $64,000 Amid Semiconductor Rally and Dollar Weakness

Bitcoin's price surged to nearly $64,000 on Friday, rebounding from losses tied to President Trump's warnings on Iran. The largest cryptocurrency gained 3.5% in a day marked by a powerful rally in Asian semiconductor and AI-related stocks, as well as a weaker dollar. Analysts say leverage-driven liquidations, rather than crypto-specific news, are driving bitcoin's gains.

Major cryptocurrencies mostly advanced alongside bitcoin, with ether and dogecoin higher on the day while solana remained the only large token still down for the week. XRP gained 2.2%, TRON climbed 1.2% and leads the majors at 4.7% over seven days, hyperliquid's HYPE added 1.8% to $68.

According to Shawn Young, chief analyst at MEXC Research, once liquidations begin to drive price action, the market can move faster than real demand would justify. He is watching how bitcoin trades inside the $60,000 to $63,000 band now that the first recovery is in.