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

6 days ago 6

Bitcoin pushed within a few hundred dollars of a new all-time high price mark early Sunday, rising as high as $103,341 and remaining in close range of the peak price as of this writing.

BTC is currently trading for $103,100 according to CoinGecko, putting it within striking distance of the all-time high price record of $103,679 set earlier this month. Bitcoin is the only asset in the top 10 cryptocurrencies that is in the green over the last week, rising more than 3% during that span.

The latest leg up comes following more than a week of substantial volatility for Bitcoin and other crypto assets.

Bitcoin surged above the vaunted $100,000 mark for the first time ever on December 4 and continued to push to the aforementioned high, but then plunged sharply the following day—and again a few days later. Both drops impacted the prices of other cryptocurrencies, and also prompted waves of liquidations that wiped out the positions of traders betting that the bull run would continue uninterrupted.

But now, Bitcoin has stabilized and is testing another record mark. Other leading cryptocurrencies are seeing modest gains alongside, though none of the major players are making as meaningful of moves so far Sunday.

Dogecoin, for example, is up more than 2% on the day at a current price of $0.403, but it's still down substantially since hitting a three-year high price of $0.48 just over a week ago. It's down 13% over the past week, per CoinGecko, making it the biggest loser among the top 10 cryptocurrencies by market cap.

And XRP is up nearly 1% over the past 24 hours at $2.42, but has still lost some momentum since spiking to a seven-year peak of $2.82 early this month. Last week, the price of the Ripple-linked asset briefly fell below the $2 mark, but has substantially recovered since then.

Overall, the crypto market isn't making too major of moves over the past day, down just 0.3% across the board per data from CoinGecko. That's prompted relatively modest liquidations compared to some of the recent spikes we've seen, with about $196 million worth of positions wiped in the last day, per CoinGlass.