Bitcoin up more than 5% near one-week high
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FILE PHOTO: A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier/File Photo
(Reuters) - Bitcoin, the world's largest cryptocurrency, rose more than 5.3% on Wednesday to $37,978, near a one-week high. It has risen about 125% so far this year.
While bitcoin remains far from the investment fever pitch it hit in late 2021, the crypto sector has enjoyed a rally in recent weeks as the expected end of central bank rate-hiking cycles draws cash back into high-risk assets.
(Reporting by Hannah Lang in Washington; Editing by Chris Reese)
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