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Bitcoin has more than doubled this year in part on bets

The largest digital token added 4% in the past 24 hours and traded at $35,840 as of 10:53 a.m. in Singapore on Thursday. Some smaller coins climbed, including the Solana network’s SOL token, which is up 142% to $42 since mid-September.Bitcoin has more than doubled this year in part on bets that the Securities and Exchange Commission may approve applications from the likes of BlackRock Inc. to start the first US ETFs investing directly in the token.“Resistance” firmed near $35,000 “but there’s enough sustained momentum around the ETF news to make some runs toward $37,000,” said Michael Safai, a partner of proprietary trading firm Dexterity Capital LLC.Meanwhile, Fed Chair Jerome Powell hinted the US central bank may be finished with the most aggressive rate-hiking cycle in four decades. That delivered broad gains in global markets Thursday across stocks, bonds and commodities.

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