Major cryptocurrency bitcoin breached the key $30,000 level for the first time in 10 months on Tuesday, adding to its steady gains as investors raised bets that the U.S. Federal Reserve will soon end its aggressive monetary tightening campaign.
Bitcoin peaked at $30,438 in Asian trade and was last up 1.4 percent at $30,070. It has gained nearly 6 percent since the start of the month, after rising 23 percent in March.
Investors are awaiting a U.S. inflation report on Wednesday to assess the Fed’s next steps after banking sector turmoil in March raised expectations that the central bank would let up on rate hikes to ease stress on the sector….