Bitcoin, the leading cryptocurrency by market capitalization, has hit the pivotal $100,000 level for the first time since early February.

The flagship coin reached an intraday high of $100,880 earlier today on the Bitstamp exchange.

The recent price surge was caused by speculation about the U.S. potentially lowering tariffs on China if negotiations go well.  

Major altcoins are also in the green, with Ethereum (ETH) reclaiming the $2,000 level. 

Is $200,000 possible in 2025? 

Earlier today, banking giant Standard Chartered reiterated its prediction that the cryptocurrency could surge to $200,000 in 2025. In fact, it now claims that the $120,000 target for the second quarter of the year is too conservative.

Bitcoin is now just 8% away from reclaiming the record peak of $108,786 that was hit on Jan. 20.