{"id":52132,"date":"2024-12-06T01:14:00","date_gmt":"2024-12-06T01:14:00","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/btc-price-43-before-bubble-bitcoin-market-cap-hits-2t"},"modified":"2024-12-06T03:58:20","modified_gmt":"2024-12-06T03:58:20","slug":"btc-price-can-surge-43-before-bubble-as-bitcoin-market-cap-hits-2t","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=52132","title":{"rendered":"BTC price can surge 43% before 'bubble' as Bitcoin market cap hits $2T"},"content":{"rendered":"

Bitcoin became a $2 trillion asset, the world\u2019s seventh-largest, after crossing $100,000 for the first time.<\/p>\n

\"\"
BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView<\/em><\/p>\n<\/figcaption><\/figure>\n

$102,000 Bitcoin has $2 trillion market cap<\/h2>\n

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.<\/p>\n

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.<\/p>\n

\"\"
Top global assets by market cap (screenshot). Source: Infinite Market Cap<\/em><\/p>\n<\/figcaption><\/figure>\n

\u201cThis comes just 5 minutes after Bitcoin crossed the historic $100,000 level,\u201d The Kobeissi Letter said in an X post.<\/p>\n

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 \u201ccompetitor\u201d to gold.<\/p>\n

\u201cPeople use Bitcoin as a speculative asset. It\u2019s just like gold, only it\u2019s virtual, it\u2019s digital,\u201d he said at the DealBook Summit in New York on Dec. 4.<\/p>\n

Combined with President-elect Donald Trump\u2019s 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.<\/p>\n

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.<\/p>\n

\"\"
BTC liquidations (screenshot). Source: CoinGlass<\/em><\/p>\n<\/figcaption><\/figure>\n

Longtime market observers saw Bitcoin doubling down on its giant November monthly candle,\u00a0itself a record-breaker in US dollar terms.<\/p>\n

\u201cBreakout confirmed,\u201d trader and analyst Rekt Capital told X followers alongside a print of the one-day chart.<\/p>\n

\"\"
BTC\/USD 1-day chart. Source: Rekt Capital\/X<\/em><\/p>\n<\/figcaption><\/figure>\n

Monthly timeframes were no less impressive for fellow trader Aksel Kibar, who, despite\u00a0dismissing the significance\u00a0of the $100,000 mark, saw Bitcoin\u2019s latest achievement as a drawn-out process.<\/p>\n

\u201cThe hurdle was at 73.7K. It is broken with a long monthly candle in November,\u201d he said.<\/p>\n

\u201cIn the past breakouts on monthly scale (2013,2017 & 2021), monthly gains continued for several months after the breakout candle.\u201d<\/p><\/blockquote>\n

\"\"
BTC\/USD 1-month chart. Source: Aksel Kibar\/X<\/em><\/p>\n<\/figcaption><\/figure>\n

BTC price metric: No \u201cbubble\u201d before $150,000<\/h2>\n

The US spot Bitcoin exchange-traded funds (ETFs) saw another day of major net inflows, passing $500 million for a second consecutive day.<\/p>\n

Related: <\/strong><\/em>Ethereum to $7K? ETH price targets mushroom as altseason gathers pace<\/strong><\/em><\/p>\n

\u201cFresh capital is fueling Bitcoin,\u201d Ki Young Ju, founder and CEO of onchain analytics platform CryptoQuant, said on X.<\/p>\n

Ki uploaded a BTC price prediction model based on Bitcoin\u2019s realized cap \u2014\u00a0the market cap based on the aggregate price at which the supply last moved.<\/p>\n

\u201cAs the realized cap grew, the ceiling price increased from $129K to $146K in 30 days,\u201d he noted.<\/p>\n

\u201cAt $102K, it’s far from a bubble\u2014it would need a 43% surge to hit the threshold often considered a bubble.\u201d<\/p><\/blockquote>\n

\"\"
BTC price prediction based on realized cap. Source: Ki Young Ju\/X<\/em><\/p>\n<\/figcaption><\/figure>\n

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.<\/p>\n

Check other news for today<\/span> and Please stand by..<\/p>\n

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Bitcoin became a $2 trillion asset, the world\u2019s seventh-largest, after crossing $100,000 for the first time. BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView $102,000 Bitcoin has $2 trillion market cap Data from Cointelegraph Markets Pro and TradingView … BTC price can surge 43% before 'bubble' as Bitcoin market cap hits $2T<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":52133,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651],"tags":[139,3544,3812,5652,10,159,97],"class_list":["post-52132","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","tag-bitcoin","tag-bitcoin-news","tag-cryptonews","tag-emilynews","tag-hyip","tag-hyipnews","tag-hyips","exalt-entry"],"yoast_head":"\nBTC price can surge 43% before 'bubble' as Bitcoin market cap hits $2T - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=52132\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BTC price can surge 43% before 'bubble' as Bitcoin market cap hits $2T - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"Bitcoin became a $2 trillion asset, the world\u2019s seventh-largest, after crossing $100,000 for the first time. 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