Bitcoin Surges Past $30,000 As Institutional Interest Fuels Rally

Bitcoin rose above $30,000 for the first time in months following growing interest from major financial institutions in crypto assets and the prospect of regulatory approval for a bitcoin exchange-traded fund.
The price of bitcoin increased more than 9% in one day, leading broader gains across the cryptocurrency market.
Companies including BlackRock, Invesco and Citadel Securities have taken steps to launch crypto exchange-traded funds and exchanges, fueling speculation the sector is poised for mainstream adoption.
The rally in crypto prices comes despite crackdowns on certain crypto firms by U.S. regulators over alleged violations of securities laws.
While some analysts warn the recent surge in crypto prices may not be sustainable, others predict continued gains in the second half of the year.