Bitcoin was trading above $60,700 Thursday after a quick reversal overnight after Federal Reserve Chairman Kevin Warsh said inflation risks had eased, giving a market that spent most of June falling its first sharp rise in weeks.
Speaking Wednesday at the European Central Bank’s annual forum in Sintra, Portugal, Warsh said “inflation risks have diminished,” while reaffirming the Fed’s commitment to returning inflation to 2 percent.
He declined to specify what the central bank would do at its meeting later this month, saying policymakers would first assess incoming data. Bitcoin pared its earlier losses and is pushed back above $60,000 after the remarks, according to reports from CoinDesk.
Solana led the majors. The token rose about 4% on the day to around $78 and is up about 16% over the past week, according to CoinDesk data, the only major token with a significant weekly gain. Ether traded near $1,630, up about 3% on the day, while XRP held steady at around $1.06. BNB, dogecoin and Tron were weaker during the week.
