Bitcoin's nearing a breakout moment — prices topped $30,000 for the first time since June 2022

• Bitcoin has rallied above the $30,000 level for the first time since June 2022.
• The gains are driven by expectations the Fed could scale back its rate hikes, an analyst said.
• Bitcoin is up about 80% this year so far while ether is up about 60% in the same period.

Bitcoin rallied above the $30,000 level for the first time since June 2022 — nearing a breakout moment for the largest cryptocurrency by market capitalization.