Bitcoin surges in biggest weekly rally in four months

Bitcoin rose 5% on Friday to one-month highs, powered by what analysts said was a flurry of buying ahead of April's halving event and as recent outflows from exchange-traded funds slowed.

The price rose to a session peak of $47,705, the most since January, after the first U.S. listed spot bitcoin exchange traded products received regulatory approval.

The world's largest cryptocurrency was last up 3.5% at $46,946, set for a rise of 10% this week, its most in a week since October. Ether was up 2.5% at $2,486.

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