Bitcoin surpassed $105,000 for the first time since January, showing a rise of over 2% as it continues its upward trajectory, which has now reached nearly 25% over the last 30 days. Currently trading at about $105,414, Bitcoin is a mere 3% away from its all-time high of $108,786 recorded in January. This surge comes amid a broader optimism in the market, reflecting a shift towards risk-on assets, particularly as geopolitical tensions eased. Other cryptocurrencies have also seen significant gains, with XRP climbing nearly 4% to $2.43 and Dogecoin rising almost 8%. Analysts highlight a disparity in market caps among cryptocurrencies, yet they caution against an impending 'altcoin season' due to macroscale uncertainties. Bitcoin’s market cap appears to be shrinking relative to other cryptocurrencies, indicating shifts in trader behavior. Liquidations of short positions totaled $128 million, showcasing the impact of Bitcoin's rise on market dynamics. As investor sentiment grows, the future trajectory remains uncertain, with macroeconomic factors likely affecting decisions. This dynamic underscores the ongoing volatility within the cryptocurrency markets.

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