Bitcoin surges in biggest weekly rally in four months

FILE PHOTO: FILE PHOTO: Physical representations of the bitcoin cryptocurrency are seen in this illustration taken October 24, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

LONDON (Reuters) -Bitcoin rose 5% on Friday to one-month highs, powered by what analysts said was a flurry of buying ahead of April's halving event and as recent outflows from exchange-traded funds slowed.

The price rose to a session peak of $47,705, the most since January, after the first U.S. listed spot bitcoin exchange traded products received regulatory approval.