Bitcoin up 16%, rises above $44,000 mark

Bitcoin traded close to $44,000 after a notching streak since May, a rally driven in part by expectations of looser monetary policy.

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The largest digital asset climbed for six days through Tuesday, advancing roughly 16% to as high as $44,491 before giving up some gains. Its 2023 rebound from last year's crypto rout now stands at 163%.

Bitcoin is up almost 80% since mid-September, a rally that saw it take out the $30,000 and $40,000 levels in quick succession. Along with wagers that the Federal Reserve may start cutting interest rates next year, its rise has also been fuelled by speculation that the US may be close to allowing its first spot Bitcoin exchange-traded funds.