Bitcoin’s Market Cap Jumps to $1.4T, Surpassing Silver

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Bitget2024/03/12 04:48

By:Bitget

Bitcoin jumped to a record high on Monday, fuelled by continued positive momentum of the spot ETFs. Less activities took place over the weekend, and the amount of long liquidations is double that of short for BTC and triple for ETH. Bitcoin continues to rise in the ranks of top assets by market cap, pushing past silver to become the world's eighth most valuable property.

With a 4% advance to an all-time high past $72,000 in the morning hours of U.S. trading, BTC valuation shot to $1.42T, above that of sliver at $1.387T, according to CompaniesMarketCap. This rally is fueled by the positive momentum of spot Bitcoin ETFs, with the London Stock Exchange deciding to accept applications for BTC and ETH exchange-traded notes (ETNs) on Monday.

Source: CoinDesk

Futures Market Updates

BTC pushed through $70K to make a new ATH at $72K and ETH smashed $4K, once again bringing up the funding rates.

Bitcoin Futures Updates

Total BTC Open Interest: $35.66B (+7.72%)

BTC Volume (24H): $110.20B (+61.96%)

BTC Liquidations (24H): $16.83M (Long)/$80.90M (Short)

Long/Short Ratio: 51.51%/48.49%

Funding Rate: 0.0652%

Ether Futures Updates

Total ETH Open Interest: $13.64B (+3.91%)

ETH Volume (24H): $46.11B (+42.71%)

ETH Liquidations (24H): $7.46M (Long)/$25.74M (Short)

Long/Short Ratio: 50.88%/49.12%

Funding Rate: 0.0669%

Top 3 OI Surges

RACA: $7.36M (+202.92%)

CELO: $63.71M (+122.41%)

JST: $3.73M (+97.55%)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Share link:In this post: Bernstein predicts Bitcoin will reach $200,000 by the end of 2025. Key factors include the rise of debt in the United States and increased demand from spot ETFs. According to Bernstein, if Trump is to win, then Bitcoin may rise to between $80,000, and if Harris wins, Bitcoin may drop to $50,000.

Cryptopolitan•2024/11/04 21:55

South Koreans pay 2.2% higher prices for Bitcoin as FOMO kicks in

Share link:In this post: As FOMO kicks in, Bitcoin holders in South Korea spend 2.2% more on purchases. The ‘Kimchi Premium’ was negative between Oct. 12 and Oct. 20 as Bitcoin traded below the global market average in South Korea. In 2024, the South Korean Won was the second largest fiat currency in Bitcoin, trading at 3.99% after the U.S. dollar, which was at 17.75%.

Cryptopolitan•2024/11/04 21:55