Major cryptocurrency bitcoin breached the key $30,000 level for the first time in 10 months on Tuesday, adding to its steady gains as investors raised bets that the U.S. Federal Reserve will soon end its aggressive monetary tightening campaign.
Bitcoin peaked at $30,438 in Asian trade and was last 2% higher at $30,262. It has gained about 6% since the start of the month, after rising 23% in March.that showed employers maintained a strong pace of hiring in March, pointing to a still-resilient economy.
"The reason behind the broad-based rally in crypto is traders' optimism toward central banks' monetary policy," said Tina Teng, markets analyst at CMC Markets. Ether , the second largest cryptocurrency, stood near last week's roughly eight-month peak of $1,942.50. It was last 0.75% higher at $1,925.80.
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