Ether, solana, dogecoin in the green after Warsh comments push bitcoin above $60,000
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- Bitcoin traded above $60,700 after Fed Chair Kevin Warsh said "inflation risks have come down" at the ECB's annual forum in Sintra, Portugal, giving crypto its first clear boost after weeks of June declines.
- Solana led major tokens with a roughly 4% daily gain to around $78 and about 16% over the past week — the only large-cap token posting a meaningful weekly rise.
- Ether traded near $1,630, up about 3% on the day, while XRP held at about $1.06; BNB, dogecoin, and Tron were softer over the week.
- A sharp semiconductor selloff hit Asia — South Korea's Kospi index fell almost 7%, Samsung Electronics and SK Hynix each dropped more than 6%, and Japan's Kioxia fell 13% after a year-long rally of more than 650%.
- Meta is building a cloud business to sell spare AI computing capacity (per Bloomberg) and Apple is in talks to buy chips from two Chinese semiconductor makers — reports that fed overbuilding concerns driving the AI-stock pullback.
- Bitcoin is on track for only its third back-to-back quarterly loss in history as capital rotated steadily into chipmakers and AI infrastructure through the second quarter.
- Brent crude fell to about $70.60 a barrel, its lowest since late February before the Middle East war, while gold rose above $4,060 an ounce after Warsh's remarks and the dollar steadied.
Why it matters: The source frames the AI-stock cracks — Samsung down 6%+, Kioxia down 13% — as the mechanism that could finally ease the capital pull that has dragged bitcoin to only its third-ever back-to-back quarterly loss. The material question the article poses: whether the $60,000 reclaim holds depends on whether the semiconductor wobble deepens into a sustained rotation back toward crypto or proves a one-day scare.
