Bitcoin Surges Above $38,000 As Markets Sees Rising investor Interests
Bitcoin hits $38,000, highest since May 2022; Ethereum peaks at $2,131 as crypto markets see rising investor interest and gains.
Bitcoin crossed $38,000 on Friday, marking its highest level since May 2022. In the last week, the cryptocurrency has risen about 7%, with 30-day gains reaching 10%.
Investors are returning to crypto markets, particularly large digital asset funds, encouraged by the possibility of a Bitcoin ETF approved in the United States. This product could entice traditional investors to cryptocurrency in a controlled manner. According to CoinShares, crypto products saw $176 million in inflows last week.
Ethereum also reached an 18-month high early Friday, reaching nearly $2,131 before falling to roughly $2,121. The asset has gained 17% in the last 30 days, reversing a previous decline.
Other cryptocurrencies rose as well, with Dogecoin trading at $0.078 and Shiba Inu at $0.00000828.
