Bitcoin price surged past $60,000 on Wednesday, reclaiming a level it had relinquished amid recent volatility. This uptick followed remarks from Federal Reserve Chair Kevin Warsh at a central bank forum, where he indicated that the threat of persistent inflation had eased. The cryptocurrency was trading around $60,171 this afternoon, reflecting an increase of approximately 2.7% for the day. The asset reached a 24-hour high of $60,474 and dipped to a low of $57,718. Trading volume for the session hit $26.68 billion. Warsh, speaking at the European Central Bank forum in Sintra, Portugal, noted that inflation expectations reflected in surveys and bond prices have shown signs of easing.
He coupled the observation with a caution that price growth continues to be excessively high and that the Fed will not tolerate inflation exceeding its 2 percent target. “We’re going to deliver price stability,” Warsh stated. Markets interpreted the balance as a shift towards relief. Bitcoin saw an uptick as U.S. stocks climbed and the dollar pulled back from its weekly peak. A weaker dollar often boosts interest in Bitcoin and various risk assets. The move provided a much-needed respite in a challenging year. Bitcoin currently stands approximately 30% lower than its starting point for 2026 and is over $66,000 beneath its all-time high of $126,277, a decline that continues to reinforce the bear-market narrative. Its market value hovers around $1.2 trillion. Strategy and Strive experienced significant fluctuations, surging over 10% at times during intraday trading.
Bitcoin treasury companies recorded more pronounced gains. Strategy, the software firm that has transitioned into a Bitcoin holder under the leadership of Michael Saylor, experienced a notable increase of nearly 7.5% on the day, reaching peaks of 13% at certain points throughout the day. Strive surged over 10% at times, reaching a high of $12.02. Both operate as leveraged proxies for Bitcoin, and their fluctuations often surpass those of the cryptocurrency itself. Strive has dedicated 2026 to constructing a treasury that currently exceeds 16,000 BTC, while the stock has surged over 100% in just three months. Earlier this week, Strategy unveiled a new Digital Credit Capital Framework that increased the dividend on its STRC preferred shares to 12%, authorised up to $2 billion in share buybacks, and established a bitcoin monetisation program permitting limited BTC sales for designated corporate purposes.
The company has set up a substantial $2.55 billion U.S. dollar reserve aimed at ensuring coverage for preferred dividends and debt interest. Board regulations mandate that this reserve maintains at least 12 months of coverage at all times. Strategy indicated that any bitcoin sales would be confined to replenishing reserves, funding dividends, and covering interest when more advantageous than issuing equity or financing stock buybacks, while reaffirming bitcoin as its main treasury asset.