Bitcoin Reclaims $60,000 as Warsh Inflation Remarks Lift Crypto and AI Stocks Slide
Updated
Updated · CoinDesk · Jul 2
Bitcoin Reclaims $60,000 as Warsh Inflation Remarks Lift Crypto and AI Stocks Slide
3 articles · Updated · CoinDesk · Jul 2
Summary
Bitcoin traded above $60,700 on Thursday, reclaiming $60,000 for the first time in more than a week after Fed Chair Kevin Warsh said inflation risks had eased.
Warsh, speaking at the ECB forum in Sintra, reiterated the Fed’s 2% inflation goal but gave no signal on this month’s rate decision, saying policymakers would wait for incoming data.
Solana led major tokens with a roughly 4% daily gain to about $78 and a 16% weekly rise, while ether climbed about 3% to near $1,630 and XRP held around $1.06.
Asian chip stocks sold off sharply at the same time—South Korea’s Kospi fell nearly 7% intraday, Samsung and SK Hynix dropped more than 6%, and Japan’s Kioxia slid 13%—reviving hopes money could rotate back into crypto.
That matters because capital had flowed into AI and semiconductor names for most of the quarter while bitcoin posted only its third back-to-back quarterly loss on record.