Bitcoin hits 6-month high as crypto market regains $85B in value

Bitcoin's price hit a six-month high on Thursday as the cryptocurrency market's total value rose by nearly $85 billion to top $1.1 trillion.Messari.

This comes amid a broader rally in risk assets, with the Nasdaq Composite notching double-digit gains since the start of this year. Investors' risk appetite appear to be growing amid an expected dovish turn by the Federal Reserve in the coming months. The central bank delivered its smallest interest-rate hike in nearly a year at the start of this month, giving traders leeway to pour into more speculative bets like high-growth stocks and cryptocurrencies.

US regulatory scrutiny of the crypto industry doesn't appear to have impacted investor sentiment either.on Sunday. Stablecoins are crypto coins pegged to a reference asset and often backed by assets such as fiat money or exchange-traded commodities.for the token in a matter of days, the report did not heavily impact broader crypto prices.

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