Bitcoin climbs past $24,000 after a month amid hopes of softer Fed action

Bitcoin is gaining for the third straight day amid a broader rally in risk assets, with the digital currency briefly rising above $24,000 for the first time in more than a month.

The world’s largest digital token rose as much as 3.3% Wednesday to trade around $24,066, the highest level since mid-June. It’s on pace to advance for the seventh session out of eight, adding more than 20% over the past week. And other cryptocurrencies are also rallying, with Ether catching attention with a greater-than 50% surge since July 12.

“The forced digital asset selling associated with various crypto lenders and entities appears to have abated for the time being,” said Josh Olszewicz, head of research at crypto fund-manager Valkyrie Investments. He’s watching the $25,000 level for Bitcoin next.