Around 06:00 GMT on Monday, Bitcoin reached a new all-time high of around $109,000 on Binance.
However, the leading cryptocurrency at the time of writing is trading close to the $108,000 level, having pared some gains.
The rally has been fuelled by renewed institutional interest, growing acceptance and optimism over regulatory clarity with Donald Trump’s inauguration
The digital asset took more than a month to break the previous record high, which was reached on Dec. 16.
The cryptocurrency’s market capitalization has risen by about 2.8%, reaching $2.14 trillion.
Bitcoin tumbled sharply today, shedding more than 3.5% in a matter of hours and briefly flirting with the critical $100,000 level.
Bitcoin is treading water near $105,000, but pressure is building on both sides of the trade as macro forces tighten.
BlackRock is making another assertive move into digital assets, quietly expanding its crypto portfolio with sizable purchases of both Bitcoin and Ethereum.
In a move that signals changing tides in traditional finance, JPMorgan is preparing to accept Bitcoin ETF holdings as collateral for loans—starting with BlackRock’s iShares Bitcoin Trust, according to insiders familiar with the plan.