Bitcoin rose above $100,000 on 4 December, a milestone that many crypto bulls had been anticipating for months, if not years, underscoring a remarkable comeback for the industry following the collapse of several key players in 2022. 

The world’s largest cryptocurrency at one point on Wednesday night rose more than 5%, peaking at $103,853, marking an increase of more than 520% from its cycle low at below $16,000 in November 2022, the wake of crypto exchange FTX’s implosion. Bitcoin is up about 146% year to date, according to CoinDesk data.