Crypto Market Today, July 1: Fed Comments Lift Bitcoin Above $60,000
On July 1, 2026, crypto markets rebounded as investors responded to easing inflation signals and shifting risk sentiment, today, July 1, 2026.
Overview
Bitcoin (CRYPTO:BTC) rose 3.1% to $60,336.43, Ethereum (CRYPTO:ETH) rose 3.1% to $1,619.99, and Solana (CRYPTO:SOL) rose 6.2% to $77.74. As of early evening on July 1, Bitcoin had broken above the $60,000 after a volatile stretch, while Solana continued to forge ahead, putting it up 14.3% in the past week.
Bitcoin showed signs of recovery today after Federal Reserve Chair Kevin Warsh spoke of lower inflation risks, though he reiterated his commitment to reducing inflation. Traders dialed back concerns about potential interest rate hikes, which may be enough to help Bitcoin and the wider crypto market turn the corner.
Details
Bitcoin ETFs saw record monthly outflows in June, suggesting weakness in institutional demand. As a result, Citigroup slashed its one-year price target for the lead cryptocurrency from $112,000 to $82,000. There were about $212.4 million in outflows from the iShares Bitcoin Trust yesterday, and a further $10.2 million from the Fidelity Wise Origin Bitcoin Fund.
Source
Originally published at www.fool.com.