Bitcoin climbed above $61,000 on Thursday, up about 4.1% over 24 hours, according to CoinDesk data, its strongest footing so far this week after a selloff sent the asset tumbling to $58,200 earlier.
The elevator came from the Federal Reserve. President Kevin Warsh told the European Central Bank forum in Sintra, Portugal, that inflation risks had diminished, his first notably more subdued comment since the hawkish rate outlook in June triggered weeks of outflows from U.S. Bitcoin exchange-traded funds.
The move stood out because it came against the backdrop of a tough day for tech.
South Korea’s Kospi index fell 7.9% on Thursday after Samsung Electronics and SK Hynix lost a combined market value of $290 billion. It’s the second time this month that the index has fallen on concerns about artificial intelligence chips, according to Bloomberg.
Meta added to the unease over plans to sell spare computing power to outside customers, a move that reignited questions about whether the buildout of AI infrastructure had outpaced actual demand.
