Cryptocurrency markets extended their rebound in US morning trading on Friday, with Bitcoin climbing back above the $70,000 mark after a sharp sell-off earlier in the week, as improving sentiment in global equity markets helped drive investors back into risk assets.

Bitcoin rose nearly 17% from its late-Thursday low near $60,000 and was up about 5% over the past 24 hours.

The move marked a significant recovery after several sessions of heavy losses that had pushed the world’s largest cryptocurrency to its weakest levels in months.

The rebound in Bitcoin was mirrored across major digital assets. Ethereum gained about 4.45% over the past 24 hours, outperforming most large-cap peers.

XRP posted one of the strongest advances, surging 21.54% on renewed short-term momentum.

Solana rose roughly 3.57%, while Dogecoin and Cardano climbed about 7.66% and 7.47%, respectively, benefiting from the broader recovery in crypto markets.

The recovery in cryptocurrencies came alongside a strong rebound in US equities, where technology stocks led a broad-based rally.

The S&P 500 rose about 1.4%, while the Dow Jones Industrial Average gained roughly 1.8%.

Major technology names, including Tesla, Nvidia, Microsoft, and Advanced Micro Devices, were trading higher by as much as 8%.

The rebound in tech shares followed several sessions of heavy selling, as investors grew concerned about rising capital expenditure, uneven earnings results, and the sustainability of artificial intelligence-related spending.

Friday’s recovery helped lift broader market sentiment and spilt over into digital assets, which tend to track risk appetite closely during periods of market stress.

Friday’s rally followed what had been a difficult and volatile week for crypto markets.

Bitcoin had remained under pressure through much of the period, posting three consecutive weeks of losses exceeding 30%,

Earlier in the week, Bitcoin fell more than 15% and touched $60,000 on Friday, triggering widespread liquidations across derivatives markets.

Data from CoinGlass showed that forced liquidations totalled about $4.85 billion over the course of the week, amplifying downside pressure.

The steep decline reflected a combination of weakening institutional demand, persistent outflows from exchange-traded funds, and broader risk-off sentiment in global markets.

Despite Friday’s rebound, institutional demand indicators continue to point to caution.

Data from SoSoValue showed that Bitcoin ETF outflows remained heavy through Thursday, totalling $689.22 million for the week.

The withdrawals marked a third consecutive week of net outflows, highlighting sustained pressure on institutional allocations.

Market participants said the persistent withdrawals have limited Bitcoin’s ability to establish a durable recovery.

Without renewed inflows, price rebounds remain vulnerable to renewed selling.

A longer-term view of institutional positioning also suggests a material shift in demand.

Data from CryptoQuant showed that, during the same period last year, ETFs were net buyers of around 46,000 BTC, contributing meaningfully to market support.

By contrast, ETFs have been net sellers in 2026, reducing their holdings by about 10,600 BTC.

This represents a swing of roughly 56,000 BTC compared with last year, contributing to weaker demand and higher selling pressure.

The post Bitcoin reclaims $70K, XRP rockets 20%: what's fueling crypto market's surge appeared first on Invezz

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