Bitcoin surpasses $1.6 trillion market cap

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Supported by a new all-time high (ATH) market price above $81,000, the total market capitalization of Bitcoin ( $60,919.00 ) crossed $1.6 trillion for the first time since its launch in 2009.

On Nov. 11, Bitcoin ( $60,919.00 ) (BTC) reached a market capitalization of $1.62 trillion amid the ongoing bull market, concurrently bringing up the global crypto market cap to its former glory of $2.71 trillion, according to data from Cointelegraph Markets Pro and CoinMarketCap.

*Bitcoin ( $60,919.00 ) market capitalization hits $1.62 trillion. Source: CoinMarketCap*

The recent price appreciation also ensured that Bitcoin ( $60,919.00 ) investors over the last 15 years maintained profitable portfolios, according to Blockchain.com. This finding implies that all unsold Bitcoin ( $60,919.00 ) investments made in the previous 8,900 days have appreciated in value, as shown below.

*The number of days holding Bitcoin ( $60,919.00 ) has been profitable relative to the current price. Source: Blockchain.com*

Bitcoin ( $60,919.00 ) ’s current circulating supply — the total number of tokens released to the market — stands at 19.8M BTC. If Bitcoin ( $60,919.00 ) were at its maximum supply of 21 million BTC, the BTC market capitalization would have recorded a fully diluted value (FDV) of $1.7 trillion.

Some factors contributing to Bitcoin ( $60,919.00 ) ’s sustained growth are rising interest from institutional investors, the pro-crypto stance of United States President-elect Donald Trump and overall positive investor sentiment.

Most recently, Bitcoin ( $60,919.00 ) reached $1 trillion market capitalization in February 2024, when BTC’s price surged above $51,000. Still, the asset struggled to retain the milestone amid the halving event.

Bitcoin ( $60,919.00 ) ’s recent price surge above $80,000 has led many traders to say that “this is just the beginning” of the anticipated Bitcoin ( $60,919.00 ) bull market.

On Nov. 10, Bitcoin ( $60,919.00 ) analyst Tuur Demeester urged Bitcoin ( $60,919.00 ) investors to hold on to their investments and avoid short-term rash actions, like selling the holdings.

Glassnode lead analyst James Check, aka “Checkmatey” shared a similar sentiment, saying that “the distance” between the price and the 200 Day Moving Average (DMA) is “still cooled off.” As a result, he expects more room for Bitcoin ( $60,919.00 ) ’s price appreciation.

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