Bitcoin rises 5.7% to $37,802

FILE PHOTO: A representation of cryptocurrency bitcoin is seen in front of a stock graph and U.S. dollar in this illustration taken, January 24, 2022. REUTERS/Dado Ruvic/File Photo

(Reuters) - Bitcoin rose 5.7 % to $37,802 at 2129 GMT on Wednesday, adding $2,044 to its previous close.

Bitcoin, the world's biggest and best-known cryptocurrency, is up 42.5% from the year's low of $26,533 on Oct. 11.

Ether, the coin linked to the ethereum blockchain network, rose 7.94 % to $2,087.9 on Wednesday, adding $153.6 to its previous close.

(Reporting by Nilutpal Timsina in Bengaluru; editing by Jonathan Oatis)