Bitcoin Soars Past $30,000 as Cryptocurrencies Rally on ETF Hopes and Safe Haven Demand

Bitcoin has reached $30,000 for the second time this week, with confidence in the approval of a spot bitcoin ETF growing and investors seeking safety amid uncertainty. The benchmark cryptocurrency is on track for a 10% weekly gain, its best since June. Ether also saw gains, rising 2.5% on the day and 4.3% for the week. Altcoins, including Ripple's XRP, Litecoin, Solana, and Polygon, also climbed after the SEC dropped claims against two Ripple Labs executives. The market remains optimistic about the potential approval of a bitcoin ETF in the US.