Posted 11/2/2023, 3:00:00 AM
Bitcoin and Altcoins Surge as Traders Bet on End of Fed Rate Hikes and New Crypto Demand
- Bitcoin rose to over 17-month high amid hopes Fed is done with rate hikes and potential new demand from ETFs
- Smaller coins like Solana's SOL token jumped, up 142% since mid-September
- Bitcoin has more than doubled this year partly on bets SEC may approve BlackRock to launch first US ETFs directly investing in it
- Fed Chair Powell hinted central bank may be finished with most aggressive rate hike cycle in decades
- Solana trying to move past link to Sam Bankman-Fried; vying with Ethereum for more share of crypto activity