Amid a surging cryptocurrency market, bitcoin price gains have continued today, reaching a new all-time high of over $7,450.

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A rapid rise starting around 03:00 UTC saw the cryptocurrency peak at $7,454 at 10:38 UTC. The session opened at $7,030. At press time, the price of a bitcoin is down slightly $7,402, according to CoinDesk's Bitcoin Price Index – a 5.29 percent gain for the day so far.

As per CoinMarketCap, bitcoin is up over 27.15 percent for the last 7 days, and its market capitalization has now peaked at over $124 billion.

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The combined market cap for all cryptocurrencies has also once again reached record levels, passing $202 billion for the first time.

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