On Sunday, the price of bitcoin briefly reached the $25,000 mark for the first time since June.

After repeatedly testing that level in recent days and retreating, bitcoin BTCUSD, -1.08% surpassed $25,000 Sunday night to reach $25,119, its highest mark since June 12, according to CoinDesk. However, it quickly retreated and was last near $24,850 at midnight ET.

Bitcoin, the world’s largest cryptocurrency by market capitalization, has fallen nearly 50 percent in a year, but is up 15 percent in the last month. Investors were obviously encouraged by better-than-expected U.S. inflation data and an improvement in the stock market; Wall Street just completed its fourth straight week of gains, something not seen since November 2021.