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Bitcoin surged by 10% to reach 1.5-year highs, leading to a rise in crypto-related stocks. This increase was fueled by speculation surrounding the possibility of a bitcoin exchange-traded fund (ETF), which prompted short-sellers to exit their positions.
Bitcoin rose more than 6% to $35,198, its highest since May 2022. It had surged 10% on Monday in its best session for almost a year and its price has doubled in 2023.
Bitcoin, the world's largest cryptocurency, rose 10 percent to one-and-a-half-year highs, on the back of speculation surrounding a bitcoin exchange-traded fund (ETF)
On Friday, Bitcoin was trading at a new high after a legal triumph in which the cryptocurrency XRP was declared not to be a security.
Cryptocurrencies have surged to their highest levels in months due to favourable regulatory and investment moves. The price of Bitcoin, which is up more than 90% for the year and nearly 30% in a month, reached its highest point since June 2022. Another popular token, Ether, saw its best session since March