- Bitcoin price hit a high of $68,000 on Coinbase.
- Bitcoin market capitalization increased from $1.27 trillion to $1.32 trillion, surpassing the market capitalization of the metaplatform.
Bitcoin’s incredible rally over the past few days led to another big rally today. Bitcoin prices, which retreated to a low of $61,000 last week, rose more than 7% in 24 hours to a high of $68,000 on cryptocurrency exchange Coinbase on Monday.
The surge pushed BTC’s value above $4,100, pushing the major cryptocurrency to its all-time high for 2021. During that bull cycle, Bitcoin price rebounded to a high of $69,044. Today’s performance shows Bitcoin is less than 2% off its peak.
With the spot Bitcoin ETF craze and the supply shock from the upcoming halving, analysts say BTC still has a lot of room to grow. ETF analyst Eric Balchunas said last week’s trading volume was “more of a new normal than an anomaly.”
10 Bitcoin ETFs are the second most traded virtual locks today. So the large increase in trading activity last week appears to have been more of a new normal than an anomaly. pic.twitter.com/dOfIQ7hhS2
— Eric Balchunas (@EricBalchunas) March 4, 2024
As the price of Bitcoin soared, its market capitalization exceeded that of top assets such as Visa, Tesla, Broadcom, and TSMC. On Monday, the cryptocurrency surpassed 10th-ranked Meta Platform with a market capitalization of $1.32 trillion.Day Between Largest asset by market capitalization To $1.28 trillion.
Bitcoin is now just behind silver at 9.DayWith precious metals of 8Day The market capitalization is $1.358 trillion.