Bitcoin breaks above $30,000 as investors eye end of rate rises

FILE PHOTO: A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken January 8, 2021. REUTERS/Dado Ruvic

(Reuters) - Major cryptocurrency bitcoin breached the key $30,000 level for the first time in 10 months on Tuesday, adding to its steady gains as investors raised bets that the U.S. Federal Reserve will soon end its aggressive monetary tightening campaign.

Bitcoin peaked at $30,438 in Asian trade and was last up 1.96% at $30,233. It has gained nearly 6% since the start of the month, after rising 23% in March.