Bitcoin rally pushes token to highest level since May 2022

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Key Points

Bitcoin soared to its highest price so far this year, as investors took on more risk ahead of comments from Federal Reserve Chair Jerome Powell which could give guidance on whether the US is closer to lowering interest rates...

Bitcoins jump constitutes the tokens highest value since May 5 last year, just before the collapse of the TerraUSD stablecoin ecosystem rocked the sector and began a steady decline in asset prices...

Bitcoin has risen more than 133% so far this year, outperforming gains in many other traditional sectors as investors favored exposure to riskier assets...

Traders are optimistic that the US Securities and Exchange Commission might soon approve the countrys first exchange-traded fund tied directly to Bitcoin..

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