Bitcoin has broken through the $30,000 mark for the first time in 10 months as investors anticipate the end of the US Federal Reserve’s monetary tightening campaign. The cryptocurrency hit $30,438 during Asian trading before falling slightly to $30,070. It has risen almost 6% since the start of April, buoyed by a 23% increase in March.
Crypto investment products also attracted $57m in inflows last week, according to CoinShares. Analysts eagerly anticipate a US inflation report, due on Wednesday, to see if the Fed will ease pressure on the banking sector by reducing rate hikes.
