Bitcoin Rises Above $60,700 After Warsh Says Inflation Risks Eased

Bitcoin traded above $60,700 on Thursday, July 2, 2026, reaching $61,499.16 after climbing back above $60,000 for the first time in over a week, CoinDesk reported. The move followed remarks by Fed Chair Kevin Warsh at the European Central Bank's annual forum in Sintra, Portugal, on Wednesday.

Warsh said inflation risks had come down and reaffirmed the central bank's commitment to returning inflation to 2 percent.

He declined to signal what the Fed will do at its meeting later this month and said policymakers would weigh incoming data first. Solana rose about 4 percent on the day to around $78 and is up roughly 16 percent over the past week, the only large token with a meaningful weekly gain, according to CoinDesk data. Ether traded near $1,630, up about 3 percent, while XRP held at about $1.06.

A selloff in semiconductor shares spread to South Korea, where the Kospi index fell almost 7 percent before paring losses. Samsung Electronics and SK Hynix each dropped more than 6 percent. Kioxia fell 13 percent in Japan after a rally that had lifted the stock more than 650 percent this year.

Meta is building a cloud business to sell access to spare AI computing power, and Apple is in talks to buy chips from two Chinese semiconductor makers. The AI trade is where money has flowed all quarter while bitcoin fell, giving the asset a rare back-to-back quarterly loss for only the third time in history. Brent crude fell to about $70.60 a barrel, its lowest since late February.

Gold rose for a second day to trade above $4,060 an ounce. U.S. payroll growth added only 57,000 jobs in June.