The crypto markets may have sat still on Thanksgiving, but early price action on Friday is driving some of the top coins to levels unseen in a year and a half.

Bitcoin on Friday rocketed above the $38,000 mark, according to CoinGecko, rising to $38,390 at present. The last time BTC hit that level was back in May 2022. Over the past week, the asset has risen by nearly 7%, pushing its 30-day gains above 10%.

Cash has flooded back into the crypto markets, with big digital asset funds receiving most of the money as investors feel confident that a spot Bitcoin exchange-traded fund (ETF) will finally approved by U.S. regulators after 10 years.

Such a product would give traditional investors exposure to the crypto world in a safe and regulated way. In a Monday report, digital asset fund manager CoinShares said that crypto products received inflows of $176 million last week—the eighth consecutive week of inflows.

Meanwhile, Ethereum

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Author: Mathew Di Salvo

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