Bitcoin continued its recent rebound back towards its all-time high mark, rising above $105,000 Sunday for the first time since January as other top coins show even larger daily gains.
The leading cryptocurrency is currently trading for $105,414, per data from CoinGecko, rising more than 2% on the day and pushing its 30-day spike to nearly 25%. At its current price, Bitcoin is currently just 3% away from its all-time high peak of $108,786 set back on January 20, President Trump's inauguration day.
There's no immediately obvious reason for the latest leg up for Bitcoin, though it reflects ongoing optimism for traders for risk-on assets as President Trump's global trade war cools off.
Bitcoin’s Dominance Is Falling—But Don't Count on Altcoin Season Yet, Analysts Say
Bitcoin’s market cap is shrinking relative to other popular cryptocurrencies as U.S. President Donald Trump continues to back away from his once-dizzying trade war. But that doesn’t mean “altcoin season” is around the corner, according to analysts. They say that a recent pivot to risk-on assets that has buoyed Ethereum and other altcoins may not last amid ongoing macroeconomic uncertainties, and that investors could favor the safer-haven digital asset if volatility arises again. “When markets a...
Also rising Sunday are XRP with a nearly 4% gain to $2.43, Ethereum (ETH) with a 3.5% rise to $2,563, and Solana climbing over 4% to about $175. Dogecoin is outgaining every other coin in the top 10 by market cap, however, jumping almost 8% over the past day to a current price of $0.232.
Short traders are feeling the most pain over the past day as a result of the broader gains, with $128 million worth of short positions liquidated per data from CoinGlass—that's from a total of $192 million worth of liquidations.
