Bitcoin (BTC) Market Value Surpasses $1 Trillion – BTC Price Continues To Soar High

Bitcoin has reached $1 Trillion in market value, leaving other market giants behind. Meanwhile, BTC price is still on a bullish trend, hitting a new level of $52,000.

Bitcoin remains in the spotlight as it reaches a new level of $52,000, with a total market capitalization of $1 Trillion according to recent data. The impressive market cap spike surpasses other industry giants such as Tesla, Walmart, and Berkshire Hathaway in terms of market value. This is the first time that Bitcoin has reached $1 Trillion in total market capitalization since its ATH period in 2021. 

Bitcoin’s incredible progress has brightened up the cryptocurrency market, especially the investors who have been waiting for this moment for some time. However, as the BTC price climbs up, liquidations have also increased. In addition, analysts started to warn the community about a potential market peak.

According to CoinGlass’ data, the crypto market has witnessed huge liquidations amounting to $225 million within a 24-hour period. This includes liquidated long positions amounting to $45.15 million and liquidated short positions amounting to $180 million. These massive liquidations highlight the increase in trading activity and price volatility during price surges in the crypto market. 

Still, one of the contributors behind Bitcoin’s price surge is the capital inflow into the spot Bitcoin ETFs. In the US alone, more than $600 million comes into these funds every day. These massive investments show significant interest in Bitcoin despite the inflation and market instability. 

At this time of writing, Bitcoin (BTC) is up by 1.59%, trading at $52,319 in the last 24 hours. Bitcoin remains #1 in the crypto charts with a total market cap of $1.06 Trillion.