Bitcoin climbed more than 4% to trade above $61,000, its highest level in over a week, after comments from former Federal Reserve Governor Kevin Warsh suggesting inflation risks have eased. The advance came even as South Korea’s KOSPI dropped 7.9% on renewed concerns around AI chip demand, a sell-off that had limited spillover into crypto markets.
- Bitcoin (BTC): +4% to above $61,000, strongest level in over a week
- Macro backdrop: Easing inflation risks cited by former Fed Governor Kevin Warsh
- Equities: South Korea’s KOSPI -7.9% amid AI chip concerns
Bitcoin Jumps Above $61K
The largest cryptocurrency by market capitalization moved decisively above the $61,000 mark, extending a rebound that puts it at its firmest level in more than a week. The move follows a period of range-bound trading and underscores renewed risk appetite despite volatility in global equities.
Macro Signals Bolster Risk Appetite
Comments from former Federal Reserve Governor Kevin Warsh indicating that inflation risks have eased supported risk assets, including digital currencies. Softer inflation risk perceptions can reduce expectations for tighter financial conditions, a backdrop that has historically been constructive for speculative assets.
Equity Weakness Shows Limited Crypto Spillover
In Asia, South Korea’s benchmark KOSPI index fell 7.9% amid renewed anxieties around AI chip demand and semiconductor exposure. Despite the sharp equity sell-off, Bitcoin’s bid remained resilient, highlighting a limited near-term correlation between crypto prices and regional stock market stress.