Bitcoin Breaks $30,000 for First Time in 10 Months as Investors Eye Federal Reserve Rate Hike Suspension

The value of Bitcoin and other major cryptocurrencies surged this week, hitting levels not seen in months.
Bitcoin crossed the $30,000 threshold for the first time since June 2022 as investors bet that the Federal Reserve will pause interest rate increases.
Ethereum also hit an eight-month high, while Binance Coin and Cardano saw major gains.
Crypto boosters argue the rally shows that digital assets offer more stability and value than traditional markets shaken by bank failures and a looming economic downturn.
Regulators have warned of risks in the crypto market even as major firms face increased scrutiny.