Bitcoin’s Recent Surge Towards Historical Highs

Bitcoin has made a notable comeback, climbing above $105,000 on Sunday for the first time since January, as other significant cryptocurrencies also show impressive daily gains.

Currently, Bitcoin is trading at approximately $105,414, reflecting a more than 2% increase in just a day, which contributes to a nearly 25% rise over the past month. Right now, it’s just 3% shy of its all-time high of $108,786 reached on January 20, coinciding with President Trump’s inauguration.

The easing tensions in President Trump’s global trade policies seem to be boosting trader confidence in riskier assets, although there’s no obvious explanation for Bitcoin’s notable rise at this time.

Alongside Bitcoin, XRP has seen an increase of about 4%, trading at $2.43, while Ethereum (ETH) gained 3.5% to reach $2,563. Solana also rose by more than 4%, reaching around $175. Interestingly, Dogecoin, which had lagged behind other top coins in the market, jumped nearly 8% in the past day, now priced at $0.232.

Meanwhile, short traders are encountering challenges due to these widespread gains, with total liquidations estimated at $192 million, according to data from Coinglass.