Bitcoin Prices Rise But Fall Short of All-Time High

The price of bitcoin surged today, but it ultimately fell away from all-time highs first set earlier this month.

AccessTimeIconAug 25, 2017 at 9:20 p.m. UTC
Updated Sep 13, 2021 at 6:51 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

The price of bitcoin closed in on its all-time high of $4,522.13 today, though it ultimately fell short of surpassing the total, first set on August 18.

At press time, the price of bitcoin had hit a high of $4,496, just 1% above opening, only to to fall back to $4,386, a move that marked the next leg in a volatile week for the cryptocurrency. Just this morning, the price surged above the $4,400 mark again after dropping below $4,000 several times over the last seven days.

Over the past week, however, the price of bitcoin is up 7%, according to data from the CoinDesk Bitcoin Price Index (BPI), and it's now up 68% month-over-month.

The steady uptick has come at a time when the rising prices of bitcoin and other cryptocurrencies has pushed the collective market capitalization for those networks to new heights as well.

Two days ago, the overall market cap climbed above $150 billion for the first time, according to data provider CoinMarketCap, and today the market was hovering near all-time highs.

At publication, the total value of all cryptocurrencies was $153 billion.

Balloon image via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.