Cryptocurrencies were under pressure early Wednesday as traders assessed another sharp pullback. But this slump may be different.

The price of bitcoin leapt back above $100,000 to start the first full trading week of the new year. The flagship cryptocurrency was last higher by about 4% at $102,234, according to Coin Metrics. The broader crypto market,

Cryptocurrencies typically gain when interest rates fall as riskier assets such as Bitcoin or XRP see higher demand. Traders still expect rates to go down, but just not as much as

The world's largest token is off from its brief peak above $108,000 in December, but is attempting to return above the 50-day moving average.