BTC Zooms Above $61,000 as Inflation Fears Soften

Bitcoin prices surged more than 4% to above $61,000 on Thursday, marking its strongest level in over a week. This gain came after Federal Reserve Chair Kevin Warsh said inflation risks had eased, tempering fears of further hawkish policy.

The cryptocurrency's climb contrasted with a sharp sell-off in tech stocks, including a nearly 8% drop in South Korea's Kospi index amid renewed worries about AI chip demand. Bitcoin held its gain despite the decline in Asian equities.

Analysts warn that bitcoin's rebound only modestly distances it from key support levels. The next swing factor is Friday's U.S. jobs report, which will shape expectations for interest rates and market direction in July.