Bitcoin rose above $61,000 on Thursday, up about 4.1% in 24 hours, according to data from CoinDesk, its strongest position so far this week after a sell-off sent the asset as low as $58,200 earlier.
The push came from the Federal Reserve. President Kevin Warsh told the European Central Bank forum in Sintra, Portugal, that inflation risks had eased, his first noticeably softer comment since a hawkish rate outlook in June triggered weeks of outflows from U.S. exchange-traded bitcoin funds.
The move stood out because it came on a difficult day for technology.
South Korea’s Kospi index fell 7.9% on Thursday after Samsung Electronics and SK Hynix lost a combined market value of $290 billion, the second time this month that the index has dropped due to concerns about artificial intelligence chips, according to Bloomberg.
Meta added to the unrest with plans to sell excess computing power to outside customers, a move that revived the question of whether the development of AI infrastructure has moved ahead of actual demand.
