Crypto Market Today, July 1: Fed Comments Lift Bitcoin Above $60,000
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.
What's driving crypto markets
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.
Crypto ETF snapshot
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.
What this means for investors
June was a tough month for cryptocurrencies as Bitcoin fell to a 21-month low, and fear dominated. Today’s bounce is positive, but the bigger picture is still shaky in the short term. Although inflation could be easing, weaker institutional conviction and the recent pivot from the largest corporate holder of Bitcoin, Strategy could both weigh on prices. Watch for further news on interest rates and for a shift in crypto ETF flows.
Solana got a boost from increasing tokenized stock trading, as well as the launch of World, a new on-chain prediction market. Strong ecosystem activity in the speedy cryptocurrency is helping it outperform other top cryptos.
Top 10 crypto performance
| # | Name | Price | 24h | 7d |
|---|---|---|---|---|
| 1 | Bitcoin (BTC) | $59,898.00 | 2.0% | 0.1% |
| 2 | Ethereum (ETH) | $1,612.06 | 2.2% | 2.0% |
| 3 | Tether (USDT) | $0.9989 | 0.0% | 0.0% |
| 4 | BNB (BNB) | $550.23 | 0.7% | -0.7% |
| 5 | USDC (USDC) | $0.9998 | 0.0% | 0.0% |
| 6 | XRP (XRP) | $1.06 | 1.3% | 0.2% |
| 7 | Solana (SOL) | $76.72 | 4.1% | 16.3% |
| 8 | TRON (TRX) | $0.3169 | 0.6% | -2.5% |
| 9 | Figure Heloc (FIGR_HELOC) | $1.02 | 0.1% | -1.6% |
| 10 | Hyperliquid (HYPE) | $62.89 | -4.0% | 4.2% |
Ranked by market cap. Data: CoinGecko, as of July 01, 2026 20:16 UTC.
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Citigroup is an advertising partner of Motley Fool Money. Emma Newbery has positions in BNB, Ethereum, and Solana. The Motley Fool has positions in and recommends Bitcoin, Ethereum, Hyperliquid, Solana, XRP, and iShares Bitcoin Trust. The Motley Fool recommends BNB and TRON. The Motley Fool has a disclosure policy.
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