Bitcoin Breaks Above $30,000 as Investors Eye End of Rate Rises

Bitcoin Breaks Above $30,000 as Investors Eye End of Rate Rises
A representation of the cryptocurrency Bitcoin is seen in this illustration taken on Aug. 6, 2021. Dado Ruvic/Illustration/Reuters
Reuters
Updated:

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 up 1.4 percent at $30,070. It has gained nearly 6 percent since the start of the month, after rising 23 percent in March.