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First Mover Americas: Bitcoin Relief Rally Stalls at $63K as Crypto Rebound Faces Hurdles

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Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.

climbing more than 4% since Friday midnight UTC. Bitcoin bounced to $63,500 from its Friday dip below $60,000 before faltering and slipping below $63,000 toward the start of the U.S. trading session. July tends to be a positive month for BTC, 10x Research wrote in a Monday update, but any lull over coming months will probably continue as the third quarter is usually the weakest for digital assets.

The Japanese investment adviser boosted its bitcoin treasury holdings to 161 BTC worth more than $10 million at current prices. The purchase was part of the company's bitcoin accumulation plan following last week's announcement it planned to, mirroring the U.S.-listed MicroStrategy's footsteps as a public company issuing bonds to raise funds and acquire bitcoin.

 

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