Bitcoin became a $2 trillion asset, the world’s seventh-largest, after crossing $100,000 for the first time.
BTC/USD 1-hour chart. Source: Cointelegraph/TradingView
$102,000 Bitcoin has $2 trillion market cap
Data from Cointelegraph Markets Pro and TradingView confirmed that the current Bitcoin (BTC) price of $102,800 equals a total market cap of $2.034 trillion.
In hitting six figures, BTC/USD now reflects the seventh-most valuable asset in the world by market cap, higher than silver and top global firms, including Meta and Saudi Aramco.
Top global assets by market cap (screenshot). Source: Infinite Market Cap
“This comes just 5 minutes after Bitcoin crossed the historic $100,000 level,” The Kobeissi Letter said in an X post.
As Cointelegraph reported, Bitcoin found intense buying pressure on the day Jerome Powell, chair of the United States Federal Reserve, reiterated that he considers it a “competitor” to gold.
“People use Bitcoin as a speculative asset. It’s just like gold, only it’s virtual, it’s digital,” he said at the DealBook Summit in New York on Dec. 4.
Combined with President-elect Donald Trump’s nomination of pro-crypto Paul Atkins for chair of the Securities and Exchange Commission (SEC), the bullish momentum began to create new BTC price records.
Shorts felt the heat as a result, with short BTC liquidations totaling $134 million for the 24 hours to the time of writing, per data from monitoring resource CoinGlass.
BTC liquidations (screenshot). Source: CoinGlass
Longtime market observers saw Bitcoin doubling down on its giant November monthly candle, itself a record-breaker in US dollar terms.
“Breakout confirmed,” trader and analyst Rekt Capital told X followers alongside a print of the one-day chart.
BTC/USD 1-day chart. Source: Rekt Capital/X
Monthly timeframes were no less impressive for fellow trader Aksel Kibar, who, despite dismissing the significance of the $100,000 mark, saw Bitcoin’s latest achievement as a drawn-out process.
“The hurdle was at 73.7K. It is broken with a long monthly candle in November,” he said.
“In the past breakouts on monthly scale (2013,2017 & 2021), monthly gains continued for several months after the breakout candle.”
BTC/USD 1-month chart. Source: Aksel Kibar/X
BTC price metric: No “bubble” before $150,000
The US spot Bitcoin exchange-traded funds (ETFs) saw another day of major net inflows, passing $500 million for a second consecutive day.
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“Fresh capital is fueling Bitcoin,” Ki Young Ju, founder and CEO of onchain analytics platform CryptoQuant, said on X.
Ki uploaded a BTC price prediction model based on Bitcoin’s realized cap — the market cap based on the aggregate price at which the supply last moved.
“As the realized cap grew, the ceiling price increased from $129K to $146K in 30 days,” he noted.
“At $102K, it’s far from a bubble—it would need a 43% surge to hit the threshold often considered a bubble.”
BTC price prediction based on realized cap. Source: Ki Young Ju/X
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
