Ether, solana, dogecoin in the green after Warsh comments push bitcoin above $60,000
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- Bitcoin climbed back above $60,000 for the first time in over a week after Fed Chair Kevin Warsh said at the ECB's annual forum in Sintra, Portugal on Wednesday that "inflation risks have come down," though he declined to signal the Fed's next move.
- Solana led major tokens with a roughly 4% daily gain to around $78 and a ~16% weekly rise, the only large token with a meaningful weekly advance, while Ether traded near $1,630 (up ~3% on the day) and XRP held at about $1.06.
- BNB, dogecoin, and Tron were softer over the week, contrasting with Solana's outperformance.
- A semiconductor selloff hit Asian markets Thursday: South Korea's Kospi fell almost 7%, Samsung Electronics and SK Hynix each dropped more than 6%, and Japan's Kioxia fell 13% after a 650% year-to-date rally.
- The AI trade jitters were fueled by Bloomberg reports that Meta is building a cloud business to sell spare AI computing capacity and that Apple is in talks to buy chips from two Chinese semiconductor makers.
- The source frames a possible rotation: capital flowed into AI stocks all quarter while bitcoin logged a rare back-to-back quarterly loss, so cracks in chip stocks could ease the pressure that has weighed on crypto.
- Brent crude fell to about $70.60/barrel, its lowest since late February before the Middle East war, as traffic through the Strait of Hormuz recovered; gold rose above $4,060/oz after Warsh's remarks.
Why it matters: Crypto now has a concrete macro catalyst in Warsh's softer inflation language, but the bigger swing factor may be the semiconductor rout — Samsung, SK Hynix, and Kioxia each fell 6–13% Thursday, and the Kospi dropped almost 7%, raising the prospect that the AI trade that pulled capital from bitcoin all quarter could start unwinding.
