Shares of stablecoin issuer Circle added more than 1% premarket and crypto services firm Coinbase gained about 0.5%, after both closed lower in the previous session. Ether treasury stocks continued their rally: BitMine surged 24%, while SharpLink jumped 14% and Bit Digital gained 5%.

The cryptocurrency market is relatively calm on Wednesday as Bitcoin (BTC) attempts to extend its recovery above $119,000, following a sell-off to $115,736 the previous day. Altcoins, including Ethereum (ETH) and Ripple (XRP), offer bullish cues, reflecting steady interest from both institutional and retail traders.

Bitcoin has hit a new all-time high, surpassing $123,000 on Monday. This marks a sharp rise from $108,000 just a week ago.

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Bitcoin continued to rise at the start of the week, surpassing the $120,000 mark early on Monday for the first time since it came onto the market some 15 years ago. On the Bitstamp trading platform, the price rose to $123,

Bullish tailwinds have boosted the world's largest cryptocurrency in the last week. The token's price broke above $120,000 for the first time on Monday.