Bitcoin zooms above $61,000 as inflation fears soften

Markets Bitcoin zooms above $61,000 as inflation fears soften Bitcoin rose more than 4% to trade above $61,000, its strongest level in over a week, after Fed Chair Kevin Warsh said inflation risks had eased. A 7.9% drop in South Korea's Kospi on renewed AI chip worries did little to dent the bid. By Shaurya Malwa Jul 2, 2026, 10:30 a.m. 2 min read Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Make preferred on Summary Show Bitcoin climbed back above $61,000 after comments from Federal Reserve Chair Kevin Warsh suggested inflation risks had eased, tempering fears of further hawkish policy. The cryptocurrency’s gains contrasted with a sharp sell-off in tech stocks, including a nearly 8 percent drop in South Korea’s Kospi index amid renewed worries about AI chip demand. Analysts warn bitcoin’s rebound only modestly distances it from key support levels, with Friday’s U.S. jobs report poised to shape expectations for interest rates and market direction in July. Bitcoin climbed above $61,000 on Thursday, up about 4.1% over 24 hours, per CoinDesk data, its firmest footing so far this week after a sell-off sent the asset to as low as $58,200 earlier. The lift came from the Federal Reserve. Chair Kevin Warsh told the European Central Bank's forum in Sintra, Portugal, that inflation risks had come down, his first notably softer comment since a hawkish June rate outlook set off weeks of outflows from U.S. bitcoin exchange-traded funds. The move stood out because it came against a rough day for tech. South Korea's Kospi index fell 7.9% on Thursday after Samsung Electronics and SK Hynix shed a combined $290 billion in market value, the second time this month the index has buckled on worries about artificial-intelligence chips, according to Bloomberg. Meta added to the unease with plans to sell spare computing power to outside customers, a move that revived the question of whether the AI infrastructure buildout has run ahead of real demand. Crypto's read diverged from that. Where the chip selloff pressured Asian equities, bitcoin held its gain, the kind of relative strength that has been missing through a quarter in which money rotated steadily out of crypto and into the AI trade. "This is a rather dangerous consolidation for the bulls," FxPro chief market analyst Alex Kuptsikevich said earlier this week, when bitcoin was pinned below $60,000, flagging $40,000 as the next real support if the floor gave way. Thursday's push back above $61,000 buys room away from that edge, though one strong session does not undo a losing first half. Friday's U.S. jobs report is the next swing factor. A strong payrolls print hands the Fed cover to stay restrictive, while a soft one revives bets on rate cuts. Either way it sets the tone for July. Latest Crypto News 1 ChatGPT developer OpenAI said to discuss offering U.S. government a 5% stake: FT 25 minutes ago 2 Live markets: Bitcoin holds above $60,000 as yen jumps on intervention fears 48 minutes ago 3 Metaplanet buys another $170 million of bitcoin expanding treasury to 43,000 BTC 1 hour ago 4 Taiko fully restores cross-chain bridge just 10 days after a $1.7 million hack 1 hour ago 5 Solana launches onchain governance and sets entry fee at 100,000 SOL staked 3 hours ago 6 XRP edges higher as whale activity rises while retail traders stay cautious 4 hours ago 7 Bitcoin's long-term holders have returned to accumulation 4 hours ago 8 FBI Director Kash Patel caught sleeping on required disclosure of six-figure MSTR investment: Report 5 hours ago 9 Ether, solana, dogecoin in the green after Warsh comments push bitcoin above $60,000 5 hours ago 10 Ethereum Institutional launch draws support from across the Ethereum ecosystem 13 hours ago Latest Research Building the Zcash Machine: Tachyon and Quantum Readiness Building the Zcash Machine: Tachyon and Quantum Readiness Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold. By CoinDesk Research Jun 30, 2026 Commissioned by GenZcash Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold. Why it matters : Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold. View Full Report More From Markets Metaplanet buys another $170 million of bitcoin expanding treasury to 43,000 BTC Taiko fully restores cross-chain bridge just 10 days after a $1.7 million hack Solana launches onchain governance and sets entry fee at 100,000 SOL staked