Bitcoin climbed above $61,000 on Thursday, up about 4.1% over 24 hours, per CoinDesk data, its strongest footing so far this week, after a selloff sent the asset to as low as $58,200 earlier.
The promise came from the Federal Reserve. President Kevin Warsh told the European Central Bank’s forum in Sintra, Portugal that inflation risks had receded, his first noticeably softer comment since a hawkish interest rate outlook in June sparked weeks of outflows from U.S. bitcoin exchange-traded funds.
The move stood out because it came against a tough day for technology.
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 weighed on concerns about artificial intelligence chips, according to Bloomberg.
Meta added to the turmoil with plans to sell extra computing power to outside customers, a move that revived questions about whether AI infrastructure has outpaced real demand.
