Bitcoin surged to a 17-month high as hopes for no more interest-rate hikes from the Federal Reserve and potential demand from the exchange-traded fund industry emerged. The largest cryptocurrency rose 4% in the past 24 hours to trade at $35,840. Smaller coins like Solana’s SOL token also climbed. Bitcoin has doubled in value this year, partly due to anticipation of SEC approval for ETFs investing in the token. The overall market value of cryptocurrencies stands at $1.36 trillion, lower than the $3 trillion peak in 2021.
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