The value of cryptocurrencies increases at the beginning of the week, with bitcoin surpassing $102,000.

The price of bitcoin surged above $100,000 at the beginning of the first full trading week of the new year.

The cryptocurrency market is experiencing a decline, with Bitcoin falling by 4% to $102,234 and other cryptocurrencies also experiencing a decline. Despite this, the broader crypto market, as measured by the CoinDesk 20 index, gained more than 3%.

On Monday morning, MicroStrategy announced that it had purchased 1,070 more bitcoins for $101 million, increasing its total bitcoin holdings to 447,470. Meanwhile, crypto stocks advanced nearly 6% and 5%, respectively.

As Nvidia and other chip names experienced a jump in their shares, the moves in crypto coincided with a rebound in tech stocks, with the tech-heavy index last higher by about 1.9%.

The crypto market is experiencing a resurgence following a post-election rally fueled by expectations of a more favorable regulatory climate. This optimism caused prices to surge for several weeks before cooling at the end of the year. Bitcoin is predicted to increase in value by approximately 100% under the new administration this year, with some experts forecasting prices as high as $250,000.