Bitcoin Hits New All-Time High

The leading cryptocurrency, Bitcoin, has reached an extraordinary milestone, surging past the $105,000 mark to set a new all-time high.

According to Coinbase, as of 6:25 p.m. Eastern Standard Time on December 15, Bitcoin's price stood at $105,087, marking a 3.63 percent increase from 24 hours earlier. This remarkable achievement marks the first time Bitcoin has crossed the $105,000 threshold, breaking its previous record of $104,000 set just 11 days earlier, on December 4.

The surge is largely attributed to growing optimism for a 'Santa Rally' ahead of Christmas. This phenomenon typically sees prices rise during the festive season. Since reclaiming the $100,000 level on December 13, Bitcoin has remained above that mark for three consecutive days. Strong buying pressure in the afternoon on December 15 pushed the price past $104,000, with the rally continuing to briefly take Bitcoin above $105,000.