The flagship cryptocurrency was last higher by about 4% at $102,234, according to Coin Metrics. The broader crypto market, as measured by the CoinDesk 20 index, gained more than 3%. Bitcoin and ether are coming off their best weeks since Dec. 6, while Solana had its best week since Nov. 22.

Cryptocurrencies rose to start the year, rebounding from recent losses as investor optimism returned to the market.

The world's largest token is off from its brief peak above $108,000 in December, but is attempting to return above the 50-day moving average.

Bitcoin (BTC), the world’s oldest and most valuable crypto, managed to nearly touch the $100,000 mark early Monday, potentially signalling a return of bullish trend in the sector. It is largely believed that major companies including MicroStrategy zeroing in on Bitcoin purchases could lead to the latest rally.