Investing.com — Bitcoin rose above $63,000 on Saturday, recovering from recent losses as investors evaluated regulatory developments in major markets and signs of continued institutional interest in digital assets.

The world’s largest cryptocurrency was trading up 1.72% at $63,453.3 as of 05:02 ET (09:02 GMT) after falling below $63,000 earlier in the week.

The rebound comes after several days of volatility that saw leveraged traders unwind positions following the Federal Reserve’s latest policy meeting.

More than $450 million worth of leveraged crypto positions were liquidated over the past week, with long positions accounting for most of the losses.

Despite the recovery, sentiment remained cautious.

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