Bitcoin became a $2 trillion asset, the world’s seventh-largest, after crossing $100,000 for the first time.
$102,000 Bitcoin has $2 trillion market cap
Data from Cointelegraph Markets Pro and TradingView confirmed that the current Bitcoin (BTC) price of $102,800 equals a total market cap of $2.034 trillion.
In hitting six figures, BTC/USD now reflects the seventh-most valuable asset in the world by market cap, higher than silver and top global firms, including Meta and Saudi Aramco.
“This comes just 5 minutes after Bitcoin crossed the historic $100,000 level,” The Kobeissi Letter said in an X post.
As Cointelegraph reported, Bitcoin found intense buying pressure on the day Jerome Powell, chair of the United States Federal Reserve, reiterated that he considers it a “competitor” to gold.
“People use Bitcoin as a speculative asset. It’s just like gold, only it’s virtual, it’s digital,” he said at the DealBook Summit in New York on Dec. 4.
Combined with President-elect Donald Trump’s nomination of pro-crypto Paul Atkins for chair of the Securities and Exchange Commission (SEC), the bullish momentum began to create new BTC price records.
Shorts felt the heat as a result, with short BTC liquidations totaling $134 million for the 24 hours to the time of writing, per data from monitoring resource CoinGlass.
Longtime market observers saw Bitcoin doubling down on its giant November monthly candle, itself a record-breaker in US dollar terms.
“Breakout confirmed,” trader and analyst Rekt Capital told X followers alongside a print of the one-day chart.
Monthly timeframes were no less impressive for fellow trader Aksel Kibar, who, despite dismissing the significance of the $100,000 mark, saw Bitcoin’s latest achievement as a drawn-out process.
“The hurdle was at 73.7K. It is broken with a long monthly candle in November,” he said.
“In the past breakouts on monthly scale (2013,2017 & 2021), monthly gains continued for several months after the breakout candle.”
BTC price metric: No “bubble” before $150,000
The US spot Bitcoin exchange-traded funds (ETFs) saw another day of major net inflows, passing $500 million for a second consecutive day.
Related: Ethereum to $7K? ETH price targets mushroom as altseason gathers pace
“Fresh capital is fueling Bitcoin,” Ki Young Ju, founder and CEO of onchain analytics platform CryptoQuant, said on X.
Ki uploaded a BTC price prediction model based on Bitcoin’s realized cap — the market cap based on the aggregate price at which the supply last moved.
“As the realized cap grew, the ceiling price increased from $129K to $146K in 30 days,” he noted.
“At $102K, it’s far from a bubble—it would need a 43% surge to hit the threshold often considered a bubble.”
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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