Bitcoin Hits 17-Month High Above $35.5K as Market Participants Bet on Fed's Monetary Policy, Reaching $35,000

Bitcoin broke $35,000, hitting a fresh 17-month high above $35.5K. Market participants bet that the Fed's likely done hiking rates, leading to increased confidence in Bitcoin. Financial advisor @BernsteinPWM estimates that Bitcoin could hit $150K within the next two years if the SEC approves spot Bitcoin ETFs. Analysts at @realMatrixport and SynFutures co-founder also predict further price increases, with Bitcoin potentially rising as high as $56K by Dec. 31 and $47,000 by the end of November. Traders are attracted to bets that Bitcoin will rise above $40,000 next month to as high as $50,000.