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Bitcoin price climbed above $60,000 on Wednesday, a level the asset had ceded during the last couple weeks of turbulence, after Federal Reserve Chair Kevin Warsh told a central bank forum that the threat of persistent inflation had moderated.
The cryptocurrency traded near $60,171 this afternoon, a gain of about 2.7% on the day, with a 24-hour high of $60,474 and a low of $57,718. Trading volume for the session reached $26.68 billion.
Warsh, in remarks at the European Central Bank forum in Sintra, Portugal, said inflation expectations in surveys and bond prices had eased. He paired the observation with a warning that price growth remains too elevated and that the Fed will not…
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