Bitcoin (BTC) has now moved past tech giant Facebook (NASDAQ: FB) and Tesla’s market cap of $765 billion and $773.52 billion respectively as of Thursday closing. Thus, if Bitcoin is considered an organization, it has now eighth largest market cap in the world and is third-largest asset class after Gold and Silver.
It’s just another day in the life of Bitcoin (BTC) investors! Continuing its back-to-back rallies further, Bitcoin (BTC) has surged another 12% today crossing $41,000 levels in a bold move. At press time, BTC is trading at a price of $41,514 with a market cap of $776 billion.
As we can see, Bitcoin is now just ~$ 450 Million away from taking on giant Alphabet (NASDAQ: GOOGL). The search engine giant Google is clearly one among the world’s most valued companies and surpassing it will be a big win for decentralization enthusiasts.
Over the last month, Bitcoin has flipped some of the biggest organizations in the world including PayPal and Berkshire Hathaway. Bitcoin has more than doubled in size over the last month.
On-Chain Metrics for Bitcoin (BTC) Still Bullish, Next Target Alphabet??
The latest price rally in Bitcoin comes on the backdrop of strong on-chain developments happening recently. As per Skew Analytics, the Bitcoin futures volume has hit $100 billion for the first-ever time in history on Thursday, November 7.
Trending Stories
#bitcoin futures volumes $100bln yesterday for the first time pic.twitter.com/T5yfvqBefd
— skew (@skewdotcom) January 8, 2021
Also, the total Bitcoin options open interest has crossed an all-time high above $10 billion. Skew Analytics mentions that as per the BTC options prices, the cryptocurrency holds some potential to surge past $100K levels by September 2021.
#bitcoin > $100k by September = 9% probability according to options prices pic.twitter.com/X7tfIUzrMH
— skew (@skewdotcom) January 7, 2021
On the other hand, the Bitcoin 200 weekly-moving-average (WMA) is increasing very fast at the rate of around 10%. Currently, the 200 WMA for BTC stands at $8500. At this rate, $100K levels don’t look so far enough!
#bitcoin 200WMA increasing 10% per month pic.twitter.com/JECDaxYZ4a
— PlanB (@100trillionUSD) January 8, 2021
- These Whales Scoop $850 mln Worth FTX Tokens Ahead Of BlockFi Deal
- Breaking: El Salvador Buys 80 Bitcoin (BTC), Here’s How Prices Reacted
- U.S. DoJ Slaps Charges Against Promoters of Baller Ape Club NFT In Rug Pull Scam
- Canada-based Ledn Challenges FTX’s Bid of BlockFi Acquisition With Better Proposal
- Just In: Basel Committee Proposes Cap For Banks’ Bitcoin Holding
- Dogecoin (DOGE), Shiba Inu (SHIB) Show Strength, Here’s Why
- Breaking: Singapore Financial Regulator Reprimands Three Arrows Capital
- Ethereum Exchange Supply Spikes, ETH At A Risk of Correcting to $700 And Below
- Bitcoin Prices Can Reach This Level By End Of 2022; Reveals Deutsche Bank
- NFT Marketplace OpenSea Flags Data Breach, Here’s What Was Leaked
- Polygon Price Analysis: V-top Reversal may Direct MATIC to $0.31 Support
- ETH Price Analysis: Is Ethereum Dropping To Three Digits?
- Bitcoin Price Analysis- BTC on Losing Streak Nearing $17800; Will it Hold?
- NEAR Price Analysis: Falling Prices Eye $3 Breakdown; Should Coin Holders Worry?
- SHIB Price Analysis: Sustained Selling may Lead $SHIB to $0.0000074?
- Sandbox Price Analysis: Crashing SAND Prices Warns 25% Downfall
- Solana Price Analysis: $36 Breakdown Teases SOL Price to Revisit $26
- Chainlink Price Analysis: Wedge Pattern could Lead LINK price below to $5
- AAVE Price Analysis: Buyers Need $76.6 Breakout to Trigger Bullish Recovery
- Apecoin Price Analysis: Rising APE Price Knockout Another Barrier; is $6 Next?
