Bitcoin, the leading cryptocurrency by market cap, has now spent more than 30 consecutive days above the make-or-break $100,000 level for the first time, CNBC reports.
The top cryptocurrency reached the much-coveted level for the first time on Dec. 5. During the same month, Bitcoin experienced a substantial correction, retracing to a local low of $92,188 on Dec. 20.
In January, Bitcoin reached a new record high of $109,356, which remained untouched for several months.
During the following months, the top coin experienced a substantial correction, plunging to a 2025 low of $76,600 on March 11.
As reported by U.Today, the leading cryptocurrency recently approached a new all-time high. Earlier today, BTC dipped below the $109,000 level, but it remains seemingly on track to reach a new lifetime peak later this month, according to Polymarket bettors.
After experiencing more volatility following the so-called “Liberation Day,” Bitcoin then ended up recovering in April and May, eventually reaching its current all-time high of $112,000 on May 22.
In the meantime, Bitwise analysts have opined that Bitcoin’s fair value stands at $230,000 due to the fact that the cryptocurrency is emerging as a hedge against growing default risks.
Meanwhile, former Strategy CEO Michael Saylor recently opined that “crypto winter” was not coming back.
Meanwhile, Bitcoin’s key price floor has now hit $48,000, meaning that it is unlikely to plunge below this level anytime soon.