Bitcoin and Ether hit highest levels since mid-May as sentiment warms

Bitcoin and Ether reached their highest levels in more than two months after a major Ethereum upgrade and despite uncertainty over crypto rules in the U.S. infrastructure plan.

Bitcoin gained as much as 4.1% to $44,463 on Saturday, its highest level since May 18. Ether increased as much as 6.9% to $3,145, gaining for a fourth day amid the Ethereum network’s London upgrade, which reduces the pace of growth in the coins.

“A mood of optimism appears to have returned to cryptocurrency markets,” Paolo Ardoino, chief technology officer at Bitfinex, said in comments Friday. “Bitcoin is leading the charge while Ethereum continues to make gains” after its network upgrade. Still, he said, “the turbulence that we’ve seen in crypto markets over recent weeks is unlikely to subside.”