Bitcoin (BTC), the leading cryptocurrency, experienced a significant price surge this week, surpassing the crucial $60,000 barrier for the first time since November 2021. This increase positions it as a contender for the ninth most valuable asset globally, potentially surpassing companies like Meta (formerly Facebook) in market capitalization.
Key Points:
- BTC price: Broke through $60,000 on Wednesday, reaching a 24-hour peak of $60,765.
- Market cap: Close to overtaking Meta’s valuation of $1.24 trillion and potentially surpassing silver’s global market cap of $1.27 trillion.
- Trading volume: Over $50.84 billion in the last 24 hours, with a 42% increase year-to-date.
- All-time high: Currently 12% away from its record of $69,044 set in November 2021.
- Factors contributing to the rise: Inflows and trading volumes from spot bitcoin exchange-traded funds and the approaching halving event in 52 days.
Also Read: Bitcoin Emits Less Than Gold and Many Industries
This news signifies a significant development in the cryptocurrency market, with bitcoin potentially entering the top ranks of global assets by value. As the price continues its upward trend and the halving event approaches, market interest in BTC is expected to remain high.
Disclaimer: The information provided in this article is for informational purposes only and should not be taken as financial advice. The cryptocurrency market is volatile and subject to significant fluctuations. Investing in any cryptocurrency carries inherent risks, and readers should always conduct their own research and due diligence before making any investment decisions.
