Bitcoin( $BTC ) bounces back above $60,000 as crypto markets surge.
Bitcoin has reclaimed the $60,000 level after comments from Kevin Warsh suggested that inflation risks have eased in recent weeks, boosting confidence across risk assets.
Bitcoin ( $BTC ) is up around 3%, adding roughly $36 billion to its market cap.
Ethereum ( $ETH ) has gained about 3.3%, adding another $6.6 billion in market value.
In just 90 minutes, the overall crypto market has added nearly $50 billion, showing how quickly sentiment can shift when macro conditions improve.
Bitcoin just broke below $59,000 again and continues to show weakness. This is happening despite relative stability in US, Japan, and South Korea markets.
The latest drop appears to be driven by a mix of heavy ETF outflows, macroeconomic uncertainty, and a wave of leveraged liquidations. Institutional investors have continued pulling money from spot Bitcoin ETFs, reducing one of the biggest sources of buying pressure that fueled previous rallies.
At the same time, stronger than expected U.S. inflation data has reinforced expectations that interest rates could stay higher for longer. That has pushed investors away from risk assets like cryptocurrencies and toward safer investments.
Once Bitcoin ( $BTC ) lost the crucial $60,000 support level, automated selling and margin calls accelerated the decline. Hundreds of thousands of leveraged positions were liquidated, creating a cascade of forced selling that drove prices even lower.
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