Bitcoin made another move towards the long-awaited $100,000 milestone, popping above the $99,000 mark on Wednesday afternoon—bringing Ethereum, Dogecoin, and other top assets along for the ride.
The leading cryptocurrency didn’t quite hit the target, however, with Bitcoin peaking at $99,329 so far Wednesday at just before 4pm ET. That’s the highest price since November 22, when BTC set its current all-time high mark of $99,645.
Momentum cooled quickly, with Bitcoin dipping down to a current price of $98,100 as of this writing. It’s unclear what propelled the rise, though BTC had been trading for $95,000 shortly after 12pm ET and steadily climbed over the few hours that followed.
The increase appeared to accelerate following comments at the New York Times DealBook Summit from Federal Reserve Chair Jerome Powell, who said that Bitcoin is competitive with gold rather than the U.S. dollar.
But while Bitcoin was on the rise, other major assets followed suit. Ethereum rose to a six-month high mark of $3,892, the first time that the price had jumped as high since late May. It’s now down to $3,854, but remains up nearly 7% on the day.
Dogecoin, meanwhile, jumped up to $0.433 for the first time since Monday, but likewise has corrected slightly, down to $0.422 as of this writing. It’s up 3% on the day.
Wednesday’s biggest gainers in the top 100 cryptocurrencies by market cap, as of this writing, are metaverse gaming token The Sandbox (SAND), which is up by 27%; Ethereum scaling network Mantle (MNT), which climbed by 21%; and gaming token Gala (GALA) with a 20% spike.
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