Warsh Comments Spark Crypto Rally as Bitcoin Tops $60,700

Federal Reserve Chair Kevin Warsh's comments on inflation risks have lifted the crypto market, with Bitcoin (BTC) rebounding above $60,700. Speaking at the European Central Bank's annual forum in Sintra, Portugal, Warsh said inflation risks had moderated while reiterating the Federal Reserve's commitment to bringing inflation back to its 2% target.

Bitcoin erased earlier losses and reclaimed the $60,000 level after Warsh's remarks, extending gains above $60,700. Among major cryptocurrencies, Solana (SOL) outperformed the market, surging about 4% during the session to roughly $78 and gaining approximately 16% over the past week.

Broader financial markets experienced significant volatility, with semiconductor stocks leading a sharp decline across Asia. The technology selloff renewed concerns that valuations across the artificial intelligence sector may have become overstretched.