- Bitcoin climbed above $105,000 for the first time since January, nearing its all-time high.
- The cryptocurrency is now only 3% below its record price of $108,786 set on January 20.
- Other major digital assets like Ethereum, XRP, and Solana also saw gains of up to 4%.
- Dogecoin led top cryptocurrencies with nearly 8% growth in one day.
- Short sellers lost $128 million as a result of widespread price increases, according to CoinGlass data.
Bitcoin surpassed $105,000 on Sunday, marking its highest value since January. The price increase brings the leading digital currency close to its previous all-time high, with only a 3% difference from the peak of $108,786 reached on January 20.
At the time of reporting, Bitcoin trades at $105,414, reflecting a more than 2% gain for the day and an overall 25% rise in the past month, according to CoinGecko. The gains follow positive sentiment among traders as global economic uncertainty appears to ease.
Other major cryptocurrencies also advanced. XRP climbed nearly 4% to $2.43. Ethereum (ETH) increased by 3.5% to $2,563. Solana saw a 4% gain, reaching about $175. Dogecoin recorded the largest surge among the top ten coins by market value, jumping almost 8% over the past day to $0.232.
There was no clear cause for Bitcoin’s recent price rise, though it reflects steady optimism for assets considered higher risk. The cooling of global trade conflicts is a likely factor in the market rally.
Short sellers, who bet against rising prices, experienced significant losses. Data from CoinGlass shows that $128 million in short positions were liquidated, out of a total $192 million in overall liquidations. Liquidation occurs when traders are forced to close positions due to insufficient funds to cover losses.
Trading across the cryptocurrency market remains active as investors react to shifting economic and geopolitical developments. Other top cryptocurrencies continue to follow Bitcoin’s lead, with gains spreading across digital asset markets.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Bitcoin Traders Eye $116K Upside as Breakout Signal Intensifies
- Saifedean Ammous Backs Efforts to Make Bitcoin Spam Costlier
- Dogecoin Surges on Bullish Momentum, Eyes $0.35 Amid Volatility
- UK to Require Crypto Firms to Report All User Data From 2026
- Hong Kong Police Bust Crypto-Based $15M Cross-Border Laundering Ring
