- Bitcoin reached a new all-time high, breaking through $89K several times
- However, it corrected each time and has now settled at ~$88K
- Bitcoin moved from 9th to 8th place in the top assets, overtaking silver
- It surpasses silver market cap, Bitcoin $1.75T vs. Silver $1.72T
Bitcoin reached new all-time highs several times, breaking through $89K and reaching a market capitalization of $1.75T.
Although experiencing an immediate correction each time, and now trading at ~$88K with a market capitalization of ~$1.74T, this has allowed it to break out from 9th to 8th place in the top assets and overtake silver with its $1.72T market capitalization.
More on Bitcoin and Silver
Just recently, we wrote about Bitcoin breaking through $80K, experiencing a correction to $78K, but overtaking Meta, and setting 9th place in the top assets.
Today we can already talk about setting the 8th place, overtaking silver.
We saw breaking through $89K, more precisely after a rapid jump from $81.7K to $84.9K without significant resistance, and further to $88.3K after which there was a noticeable correction to $86.6K.
Next, we saw a record $89.5K, also experienced a correction to $86.5K, after which we got to $89.4K and a correction to $87.1K and trading at ~$88.4K at the time of writing.
It’s worth noting that the following corrections weren’t as strong as yesterday’s, and all of this 8.7% gain happened over just 24 hours.
Overall, Bitcoin has posted a 29.4% gain over the past week, and it looks like the bullish momentum is continuing, immediately pushing it further out, and making the corrections less strong.
Speaking of silver, which has lost its 9th place in the top assets, it conversely shows a 6.24% drop over the last week.
And while gold remains the top 1 among all assets, it too is falling like other precious metals amid optimism from Donald Trump’s victory and lower interest rates.
Conclusion
Bitcoin continues to rapidly gain its place among the world’s top assets, and we see it moving very quickly with many incentives, from political to economic.
However, such rapid growth is always a time to be extra cautious and keep a cold head. Stay tuned.
