3 Reasons Behind Bitcoin Rallying To Its Highest This Year

Here are the factors that fuelled the rally in the worlds leading cryptocurrency Bitcoin:

Bitcoin, the world's most prominent cryptocurrency, surged past $38,000 on Friday for the first time this year. The cryptocurrency gained around 1.5% on Friday to trade above the $38,000-level for the first time since May 2022 in line with gains in other crypto assets such as Ether and Solana, reported CNBC.

Here are the main factors that fuelled the rally in Bitcoin.

One of the major factors contributing to Bitcoin's rise is the resolution of Binance's legal troubles.