Investing.com-- Bitcoin prices rose on Thursday after the Federal Reserve struck a less hawkish tone than markets were expecting, with broader cryptocurrencies also advancing as the dollar weakened and traders bet on no more interest rate hikes.Fed Chair Jerome Powell struck a seemingly less hawkish tone on future rate hikes. While he still left the door open for one more rate hike this year, Powell also acknowledged that monetary conditions had tightened substantially in recent months.
Bitcoin crossed the $35,000 mark for the first time since May 2022. A series of high-profile bankruptcies in the crypto market- including Terra, Three Arrows Capital and most notably FTX, had triggered deep declines in crypto prices over the past year. The world’s largest crypto token had sunk to as low as $15,000 in late-2022.
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