On Binance, the largest cryptocurrency exchange by trading volume, bitcoin rose 5.83% overnight to $97,403.37 as of 05:14 GMT.
The peak trading price on the exchange was $97,720.
According to CoinMarketCap, which averages prices from over 20 exchanges, bitcoin's price rose by 2.84% to an average of $97,486 in the past 24 hours.
The Financial Times reported on Monday that Trump Media & Technology Group Corp belonging to US President-elect Donald Trump was in talks to buy the Bakkt cryptocurrency trading venue. Analysts said that the news reports of the deal had a positive impact on the dynamics of the cryptocurrency market.
The price of bitcoin began to rise after the news of Trump's victory in the US presidential election in early November. Since November 5, it has risen about 44%, from about $67,000 to over $97,000.