Bitcoin Soars as Fidelity Resubmits ETF Bid and U.S. Economy Rebounds

Bitcoin and other top 10 non-stablecoin cryptocurrencies gained as the US economy showed signs of rebounding, with GDP growth exceeding expectations and jobless claims lower than anticipated. Fidelity Investments filed for a spot Bitcoin exchange-traded fund (ETF), joining other asset managers in seeking approval for a Bitcoin ETF. Solana led the gains among cryptocurrencies despite the announcement of the winding down of operations by Solana NFT protocol Cardinal. Meanwhile, China's manufacturing activity contracted for the third consecutive month, while the US is expected to see more interest rate hikes this year.