The largest cryptocurrency has been volatile ahead of the holidays, falling back following its march toward the key $100,000 level.

Bitcoin on Wednesday climbed back above $96,000, recovering slightly from a pullback this week that knocked it from record levels. The price of the flagship cryptocurrency was last higher by nearly 6% at $96,

Bitcoin's price premium on Coinbase rebounded after flipping negative during the recent pullback, suggesting that American traders may be driving the rally.