Bitcoin’s price surged past the $60,000 mark on Wednesday, recovering a level it had lost in recent weeks amid turbulent market conditions. The cryptocurrency recorded a trading price of approximately $60,171, reflecting a gain of about 2.7% for the day. During the session, Bitcoin hit a 24-hour high of $60,474, with a low of $57,718. The trading volume reached an impressive $26.68 billion.
The rally followed comments from Federal Reserve Chair Kevin Warsh at a central bank forum in Sintra, Portugal, where he indicated that the threat of persistent inflation had eased. Warsh noted that inflation expectations, as gauged by surveys and bond prices, had moderated. However, he cautioned that price growth remains above the Federal Reserve’s target of 2%, emphasizing the central bank’s commitment to achieving price stability.
Markets interpreted Warsh’s remarks as a sign of relief, prompting Bitcoin’s rise alongside gains in U.S. stocks and a retreat of the dollar from a weekly high. A weaker dollar typically boosts demand for Bitcoin and other risk assets, contributing to the cryptocurrency’s positive trajectory.
Despite the recent gains, Bitcoin remains about 30% lower than where it started in 2026 and sits nearly $66,000 below its all-time high of $126,277. This ongoing decline has kept the bear-market label relevant, with Bitcoin’s market capitalization hovering around $1.2 trillion.
In contrast to Bitcoin’s fluctuations, certain companies focused on Bitcoin treasury management saw significant gains during the trading session. Strategy (MSTR) and Strive (ASST) both experienced intraday increases of over 10%. Strategy, a software company that has transitioned into a Bitcoin holder under the leadership of Michael Saylor, rose by nearly 7.5% on the day, peaking at approximately 13%. Strive, meanwhile, surged more than 10% at times, reaching $12.02.
These companies often act as leveraged proxies for Bitcoin, with their stock price movements typically exceeding those of the cryptocurrency. Strive has invested heavily in building a treasury of over 16,000 BTC throughout 2026, causing its stock to climb more than 100% over the past three months.
Earlier this week, Strategy announced a new Digital Credit Capital Framework, enhancing the dividend on its STRC preferred shares to 12%. The firm authorized up to $2 billion in share buybacks and established a Bitcoin monetization program, which allows for limited sales of BTC for specific corporate purposes. Additionally, it created a $2.55 billion U.S. dollar reserve intended to cover preferred dividends and debt interest, ensuring a minimum 12-month coverage at all times.
Strategy emphasized that any future Bitcoin sales would be carefully managed, focused on replenishing reserves and funding dividends and debt interest, underscoring Bitcoin’s role as its primary treasury asset.
