US Treasury prices slipped on July 1, pushing ten-year yields toward 4.49% as traders repositioned ahead of the June employment report. The move came alongside comments from newly confirmed Federal Reserve Chair Kevin Warsh that painted a softer picture on inflation, a combination that sent ripples through both traditional and crypto markets.
Bitcoin responded by climbing back to $60,000, a level it had struggled to hold in recent weeks. The catalyst was straightforward: when the person running the Fed sounds less worried about raising rates, riskier assets tend to catch a bid.
Warsh’s Sintra moment
Speaking at the European Central Bank’s annual Sintra forum, Warsh noted that inflation expectations had eased while reaffirming the Fed’s commitment to its 2% price stability target.
The dovish framing also carries extra weight given Warsh’s personal exposure to digital assets. During his confirmation process, Warsh disclosed investments in more than 30 cryptocurrency-related assets, including Solana.
