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Bitcoin (BTC-USD) rallied to its highest level since May 2022, hitting $38.9K in early Friday trading, pulling a slew of crypto-at-risk stocks higher.
The first digital token (BTC-USD) reached $38.9K at 5:05 a.m. ET, reaching its highest level this year Year.
Last week, BTC-USD hovered around the $38,000 mark as it ended the Thanksgiving week up nearly 5%, and will likely end this week up around 3%.
The token's rise comes despite strict measures from regulators in the crypto space, which includes Binance's $4.3 billion settlement last week.
Digital asset investment funds also recorded net inflows of $346 million last week, the largest amount this year, driven by growing anticipation of U.S. approval of a spot Bitcoin exchange-traded fund (BTC-USD).
Crypto-linked stocks were mostly higher at the time of writing, including: MicroStrategy (MSTR) +1.35%, Marathon Digital (MARA) +2.17%, Riot Platforms (RIOT) +1.91%, Bakkt Holdings (BKKT ) +2.67% and HIVE Digital Technologies (HIVE) +2.93%, in premarket trading.
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