Bitcoin (BTC) has risen as high as $93,000 U.S. as traders and investors cheer what’s being called a “New Year’s rally” in cryptocurrencies.
Bitcoin has gained about 1% in the past 24 hours and is up 3% over the last week as investors’ risk appetite returns to start 2026.
Other digital assets such as Ethereum (ETH), XRP (XRP), and Solana (SOL) are also marching higher to start the year after enduring a prolonged slump during the autumn.
Ethereum, the second largest cryptocurrency by market capitalization after Bitcoin, is currently trading at $3,150 U.S. after falling below the key level of $3,000 U.S. in December.
Bitcoin had declined as low as $85,000 U.S. in recent months as investors moved away from risk assets such as stocks and crypto.
While many investors appear to be cheering the reversal higher for crypto, it remains to be seen if the current rally is sustainable.
Previous attempts by Bitcoin to rise above $95,000 U.S. in recent months have each failed. However, there appears to be increased optimism for crypto’s revival to start 2026.
There are a rising number of options bets that Bitcoin’s price will again rise above $100,000 U.S. in the near-term.
However, some analysts caution that uncertainty around crypto, and the broader market, remains high, especially after the U.S. attacked Venezuela in recent days.
Bitcoin hit an all-time high of just above $126,000 U.S. last October.
