The digital currency Bitcoin recovered during Saturday’s trading, approaching the $64,000 level, after falling in the previous session coinciding with the decline of technology and semiconductor stocks under pressure from the launch of a new Chinese artificial intelligence model, and the reduced likelihood of US legislation supporting regulation of the digital asset market.

The price of Bitcoin rose to $63,972.70, after trading between $62,505 and $64,287, according to data from the CoinMarketCap platform.

Earlier in the week, Bitcoin approached the $65,000 level, supported by US inflation data that strengthened expectations of the Federal Reserve adopting a less aggressive monetary policy.

In contrast, alternative currencies experienced limited gains during Saturday’s trading; Ethereum rose by 0.65%, Ripple (XRP) by 0.29%, and Cardano jumped by 3.31%.

BNB and Solana recorded gains of 0.67% and 0.33%, respectively, while Dogecoin rose by 0.66%, and the $TRUMP currency jumped by 7.01%.

The losses in the previous session followed the announcement by Chinese company Moonshot AI of the launch of its new model Kimi K3, which performance tests showed superiority in front-end programming over advanced models such as Claude Fable 5 from Anthropic and GPT-5.6 from OpenAI.

The Chinese model achieved 1,679 points, compared to 1,631 and 1,618 points for its competitors respectively, jumping from 18th place to the top in one release. The model has around 2.8 trillion parameters and is based on a "mixture of experts" (MoE) design that activates part of its structure according to the nature of the task. Its software weights will be made available to the public on July 27.

This development raised concerns among investors about technology companies' valuations, amid expectations that open and less expensive models would change the rules of competition in the artificial intelligence sector.

This was reflected negatively on the cryptocurrency market, which has recently moved in tandem with technology and semiconductor stocks. The repercussions also extended to listed Bitcoin mining companies, which have expanded their investments in high-performance computing, amid concerns that demand for high-cost data centers may be reduced.

In a related context, US regulatory uncertainty increased selling pressure after the chances of passing the CLARITY bill to regulate digital assets by the end of the year fell to 32% on Polymarket, compared to 82% last February. This was due to disagreements within the Senate over provisions relating to the ethics of government officials' dealings with cryptocurrencies.