- Bitcoin, the leading cryptocurrency by market capitalization, has experienced an increase of over 24% in the last month and more than 17% in just the last two weeks.
- Despite a trading volume of $31 billion, BTC’s dominant trading pairs are USDT, FDUSD, USD, USDC, and KRW.
- The recent surge in crypto assets led to the liquidation of $160 million in short positions in the last 24 hours.
After reaching a peak of $44,100 following Bitcoin’s price surge, its market value surpasses that of major corporations!
Bitcoin Price Reaches $44,000
On Tuesday, Bitcoin’s price surpassed $44,000, reaching a peak of $44,100 per unit. Bitcoin, the leading cryptocurrency by market capitalization, has experienced an increase of over 24% in the last month and more than 17% in just the last two weeks.
This week, Bitcoin saw a noteworthy 14% rise against the US dollar. On December 5th, Tuesday, BTC reached $44,100. Currently, BTC’s trading volume stands at $31.68 billion, doubling the previous day’s figure. Bitcoin’s intraday trading range fluctuated from just above $41,453 to $44,000.
BTC’s value has not reached these levels since April 6, 2022, before the Terra market crash. Despite a trading volume of $31 billion, BTC’s dominant trading pairs are USDT, FDUSD, USD, USDC, and KRW. Major platforms such as Binance, Kraken, Coinbase, and Bitfinex are among the top exchanges for global BTC trading volume today.
Tuesday’s BTC trading volume is second only to the stablecoin USDT. The recent surge in crypto assets led to the liquidation of $160 million in short positions in the last 24 hours, with approximately $91.34 million coming from Bitcoin (BTC) short positions. In a market environment with a total value of over $1.65 trillion, dominated by more than 10,000 assets, Bitcoin’s market dominance increased to 51.3%.
Bitcoin Surpasses Corporate Market Values
Furthermore, Bitcoin has surpassed the market value of Meta, Tesla, and Berkshire Hathaway companies. This latest price increase positions BTC as the ninth-largest asset by market capitalization, including corporations, precious metals, and exchange-traded funds. NVIDIA currently holds the top spot with a market value of $1.45 trillion.
[COINOTAG NEWS]
Bitcoin has surpassed the market value of Meta (formerly known as Facebook), Berkshire Hathaway, and Tesla.
This news published on COINOTAG PRO 10 seconds ago. pic.twitter.com/AACTO1sUG7
— COINOTAG NEWS (@coinotagen) December 5, 2023
