Bitcoin rose back to a more than 17-month high amid hopes the Federal Reserve is done with interest-rate hikes and expectations that a fresh source of demand is brewing in the exchange-traded fund industry.
The largest digital token added 4% in the past 24 hours and traded at $35,840 as of 10:53 a.m. in Singapore on Thursday. Some smaller coins climbed, including the Solana network’s SOL token, which is up 142% to $42 since mid-September.
Bitcoin has more than doubled this year in part on bets that the Securities and Exchange Commission may approve applications from the likes of BlackRock Inc. to start the first US ETFs investing directly in the token.
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