Bitcoin Surges 2% to $105,414, 3% From All-Time High

Bitcoin has surged past $105,000 for the first time since January, marking a significant milestone in its recent rebound. The leading cryptocurrency is currently trading at $105,414, reflecting a more than 2% increase on the day and a nearly 25% spike over the past 30 days. This price point places Bitcoin just 3% away from its all-time high of $108,786, which was reached on January 20.

The reasons behind this latest surge are not immediately clear, but it aligns with a broader trend of optimism among traders for risk-on assets. This optimism is likely fueled by the cooling off of President Trump's global trade war, which has created a more favorable environment for cryptocurrencies and other high-risk investments.

Other top cryptocurrencies have also seen significant gains. XRP has risen nearly 4% to $2.43, Ethereum (ETH) has increased by 3.5% to $2,563, and Solana has climbed over 4% to approximately $175. Notably, Dogecoin has outpaced all other top 10 cryptocurrencies by market cap, jumping almost 8% to a current price of $0.232.

Short traders have been particularly affected by these gains, with $128 million worth of short positions liquidated. This figure is part of a total of $192 million worth of liquidations, highlighting the impact of the broader market gains on short positions.