Bitcoin trades above $20,000 for first time in 2 weeks as Treasury yields pull back

Bitcoin BTCUSD, -0.18% is trading above $20,000 Tuesday to the highest level since Oct. 6, amid renewed hopes among investors that the Federal Reserve may slow the pace of its aggressive rate hikes by year-end. Bitcoin went up 5% Tuesday while Ether ETHUSD, -0.07% rallied 11% to around $1,500, the loftiest level since Sept. 15, according to CoinDesk data. The yield on the 10-year Treasury note TMUBMUSD10Y, 4.103% went down 15 basis points on Tuesday to 4.098%. Major stock indexes climbed on Tuesday, with the Dow Jones Industrial Average DJIA, +1.07% rising to a six-week high. The S&P 500 SPX, +1.63% gained 1.6% Tuesday and the Nasdaq Composite COMP, +2.25% advanced 2.2%.