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Bitcoin zooms above $61,000 as inflation fears soften
Key takeaways
- The lift came from the Federal Reserve.
- The move stood out because it came against a rough day for tech.
- Meta added to the unease with plans to sell spare computing power to outside customers, a move that revived the question of whether the AI infrastructure buildout has run ahead of real demand.
The lift came from the Federal Reserve. Chair Kevin Warsh told the European Central Bank's forum in Sintra, Portugal, that inflation risks had come down, his first notably softer comment since a hawkish June rate outlook set off weeks of outflows from U.S. bitcoin exchange-traded funds.
The move stood out because it came against a rough day for tech.
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 buckled on worries about artificial-intelligence chips, according to Bloomberg.
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