Bitcoin Tops $61K After Fed's Warsh Eases Inflation Warning
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Bitcoin climbed above $61,000 (up roughly 4.1% in 24 hours) on Thursday, recovering from a slide to $58,200 earlier in the week after Fed Chair Kevin Warsh told the ECB forum in Sintra that inflation risks had come down — his first notably softer comment since a hawkish June outlook triggered weeks of bitcoin-ETF outflows.
- South Korea's Kospi index dropped 7.9% on Thursday, its second AI-chip-driven buckle this month, after Samsung Electronics and SK Hynix shed a combined $290 billion in market value, per Bloomberg.
- Meta announced plans to sell spare computing power to outside customers, a move the article flags as reviving questions about whether the AI infrastructure buildout has outrun real demand.
- FxPro chief market analyst Alex Kuptsikevich called bitcoin's sub-$60,000 consolidation "rather dangerous for the bulls" and identified $40,000 as the next major support if the floor gave way.
- Friday's U.S. jobs report is positioned as the next swing factor — a strong print hands the Fed cover to stay restrictive, while a soft print revives rate-cut bets and sets the tone for July.
- The article frames crypto's resilience against the chip selloff as a return of relative strength "missing through a quarter in which money rotated steadily out of crypto and into the AI trade."
Why it matters: Friday's U.S. jobs report will determine whether the Fed can credibly hold rates higher or faces pressure to cut, directly shaping bitcoin's path into July and the $40,000 support level FxPro flagged. The day's divergence — bitcoin up 4% while Samsung and SK Hynix erased $290 billion — signals capital may be rotating back toward crypto after a quarter that favored AI infrastructure plays, a rotation that the $61,000 reclaim only modestly reinforces.
