Bitcoin Price Nears All-Time High Above $103K as Dogecoin and XRP Rise

Bitcoin pushed inside a couple of hundred {dollars} of a brand new all-time excessive worth mark early Sunday, rising as excessive as $103,341 and remaining in shut vary of the height worth as of this writing.

BTC is at the moment buying and selling for $103,100 in response to CoinGecko, placing it inside hanging distance of the all-time excessive worth report of $103,679 set earlier this month. Bitcoin is the one asset within the high 10 cryptocurrencies that’s within the inexperienced during the last week, rising greater than 3% throughout that span.

The newest leg up comes following greater than every week of considerable volatility for Bitcoin and different crypto property.

Bitcoin surged above the vaunted $100,000 mark for the primary time ever on December 4 and continued to push to the aforementioned excessive, however then plunged sharply the next day—and once more a couple of days later. Both drops impacted the costs of different cryptocurrencies, and likewise prompted waves of liquidations that worn out the positions of merchants betting that the bull run would proceed uninterrupted.

But now, Bitcoin has stabilized and is testing one other report mark. Other main cryptocurrencies are seeing modest positive aspects alongside, although not one of the main gamers are making as significant of strikes to this point Sunday.

Dogecoin, for instance, is up greater than 2% on the day at a present worth of $0.403, but it surely’s nonetheless down considerably since hitting a three-year excessive worth of $0.48 simply over every week in the past. It’s down 13% over the previous week, per CoinGecko, making it the largest loser among the many high 10 cryptocurrencies by market cap.

And XRP is up almost 1% over the previous 24 hours at $2.42, however has nonetheless misplaced some momentum since spiking to a seven-year peak of $2.82 early this month. Last week, the value of the Ripple-linked asset briefly fell under the $2 mark, however has considerably recovered since then.

Overall, the crypto market is not making too main of strikes over the previous day, down simply 0.3% throughout the board per information from CoinGecko. That’s prompted comparatively modest liquidations in comparison with a few of the current spikes we have seen, with about $196 million price of positions wiped within the final day, per CoinGlass.