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Rekt (rektarb.xyz)

Rekt

Bitcoin became a $2 trillion asset, the world’s seventh-largest, after crossing $100,000 for the first time.
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 <img alt="BTC price can surge 43% before 'bubble' as Bitcoin market cap hits $2T" src="https://s3.cointelegraph.com/uploads/2024-12/01939677-a5a4-7ea6-8c26-53336d1bac80" title="">
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 BTC/USD 1-hour chart. Source: Cointelegraph/TradingView
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<h2 id="102-000-bitcoin-has-2-trillion-market-cap">$102,000 Bitcoin has $2 trillion market cap</h2>
Data from <a data-ct-non-breakable="null" href="https://subscription.cointelegraph.com/?_gl=1*7499wx*_ga*MTQ0MzQ0NzI4Ny4xNzE2MzY1NTA0*_ga_53R24TEEB1*MTcxNjM2NTUwNC4xLjEuMTcxNjM2Njg2MC4wLjAuMA.." rel="null" target="null" text="null" title="null">Cointelegraph Markets Pro</a> and <a data-ct-non-breakable="null" href="https://www.tradingview.com/symbols/BTCUSD/?exchange=BINANCE" rel="null" target="null" text="null" title="null">TradingView</a> confirmed that the current Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="https://cointelegraph.com/bitcoin-price">BTC</a>) price of $102,800 equals a total market cap of $2.034 trillion.
In hitting six figures, BTC/USD <a data-ct-non-breakable="null" href="https://8marketcap.com/" rel="nofollow noopener" target="_blank" text="null" title="https://8marketcap.com/">now reflects</a> the seventh-most valuable asset in the world by market cap, higher than silver and top global firms, including Meta and Saudi Aramco.
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 <img alt="BTC price can surge 43% before 'bubble' as Bitcoin market cap hits $2T" src="https://s3.cointelegraph.com/uploads/2024-12/01939671-bbfe-7658-b674-f4c8db0cf864" title="">
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 Top global assets by market cap (screenshot). Source: Infinite Market Cap
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“This comes just 5 minutes after Bitcoin crossed the historic $100,000 level,” The Kobeissi Letter said in an X <a data-ct-non-breakable="null" href="https://x.com/KobeissiLetter/status/1864500989362905213" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/KobeissiLetter/status/1864500989362905213">post</a>.
As <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-competes-with-gold-us-dollar-says-fed-jerome-powell" rel="null" target="null" text="null" title="null">Cointelegraph reported</a>, 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 <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-nominates-paul-atkins-replace-gensler-sec-chair" rel="null" target="null" text="null" title="null">President-elect Donald Trump’s nomination</a> 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 <a data-ct-non-breakable="null" href="https://www.coinglass.com/LiquidationData" rel="null" target="null" text="null" title="null">CoinGlass</a>.
<figure>
 <img alt="BTC price can surge 43% before 'bubble' as Bitcoin market cap hits $2T" src="https://s3.cointelegraph.com/uploads/2024-12/01939672-b404-720f-b611-5e3c6b453056" title="">
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 BTC liquidations (screenshot). Source: CoinGlass
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Longtime market observers saw Bitcoin doubling down on its giant November monthly candle,&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-26k-record-monthly-btc-price-gain" rel="" target="_self" text="null" title="https://cointelegraph.com/news/bitcoin-26k-record-monthly-btc-price-gain">itself a record-breaker</a> in US dollar terms.
“Breakout confirmed,” trader and analyst Rekt Capital told X followers alongside a print of the one-day chart.
<figure>
 <img alt="BTC price can surge 43% before 'bubble' as Bitcoin market cap hits $2T" src="https://s3.cointelegraph.com/uploads/2024-12/01939673-0e86-7f72-b2a8-196c0c674f3a" title="">
 <figcaption style="text-align: center;">
 BTC/USD 1-day chart. Source: Rekt Capital/X
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Monthly timeframes were no less impressive for fellow trader Aksel Kibar, who, despite&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/who-cares-about-100k-5-things-bitcoin-this-week" rel="null" target="null" text="null" title="null">dismissing the significance</a>&nbsp;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 <a data-ct-non-breakable="null" href="https://x.com/TechCharts/status/1864560007842316663" rel="null" target="null" text="null" title="null">said</a>.&nbsp;
<blockquote>
 “In the past breakouts on monthly scale (2013,2017 &amp; 2021), monthly gains continued for several months after the breakout candle.”
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<figure>
 <img alt="BTC price can surge 43% before 'bubble' as Bitcoin market cap hits $2T" src="https://s3.cointelegraph.com/uploads/2024-12/01939673-65f0-7805-8f2b-bf6c5d169c64" title="">
 <figcaption style="text-align: center;">
 BTC/USD 1-month chart. Source: Aksel Kibar/X
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<h2 id="btc-price-metric-no-bubble-before-150-000">BTC price metric: No “bubble” before $150,000</h2>
The US spot Bitcoin exchange-traded funds (ETFs) saw another day of major net inflows, <a data-ct-non-breakable="null" href="https://farside.co.uk/btc/" rel="null" target="null" text="null" title="null">passing $500 million</a> for a second consecutive day.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ethereum-7k-eth-price-targets-altseason-gathers-pace" rel="null" target="null" text="null" title="null">Ethereum to $7K? ETH price targets mushroom as altseason gathers pace</a>
“Fresh capital is fueling Bitcoin,” Ki Young Ju, founder and CEO of onchain analytics platform CryptoQuant, <a data-ct-non-breakable="null" href="https://x.com/ki_young_ju/status/1864590204553842853" rel="null" target="null" text="null" title="null">said</a> on X.&nbsp;
Ki uploaded a BTC price prediction model based on Bitcoin’s realized cap —&nbsp;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 <a data-ct-non-breakable="null" href="https://x.com/ki_young_ju/status/1864590204553842853" rel="null" target="null" text="null" title="null">noted</a>.
<blockquote>
 “At $102K, it's far from a bubble—it would need a 43% surge to hit the threshold often considered a bubble.”
</blockquote>
<figure>
 <img alt="BTC price can surge 43% before 'bubble' as Bitcoin market cap hits $2T" src="https://s3.cointelegraph.com/uploads/2024-12/01939673-ed5c-70d2-bedd-3e034bb63c39" title="">
 <figcaption style="text-align: center;">
 BTC price prediction based on realized cap. Source: Ki Young Ju/X
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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.

BTC price can surge 43% before 'bubble' as Bitcoin market cap hits $2T

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