{"id":247320,"date":"2024-02-14T19:54:17","date_gmt":"2024-02-14T14:24:17","guid":{"rendered":"https:\/\/dripp.zone\/news\/market-cap-hits-1t-surpassing-giants-teslas-walmart-as-btc-tops-51k-crypto-news\/"},"modified":"2024-02-14T19:54:20","modified_gmt":"2024-02-14T14:24:20","slug":"market-cap-hits-1t-surpassing-giants-teslas-walmart-as-btc-tops-51k-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/market-cap-hits-1t-surpassing-giants-teslas-walmart-as-btc-tops-51k-crypto-news\/","title":{"rendered":"Market Cap Hits $1T Surpassing Giants Teslas, Walmart As BTC Tops $51k – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

The crypto market is stronger than expected this week, sending\u00a0Bitcoin price<\/span><\/a>\u00a0above $51,000 for the first time since December 2021. Altcoins, not being left behind, responded with significant strength led by Ethereum (ETH), which has reclaimed support\/resistance at $2,700.<\/p>\n

If BTC crosses above an important weekly resistance from December 2021, this pre-halving rally could continue uninterrupted and possibly peak between $54,000 and $58,000, Micha\u00ebl van de Poppe, the founder of MN Trading Consultancy said via an X post.<\/p>\n

<\/p>\n

\n

#Bitcoin<\/a> breaking through $51,000 and making a new yearly high. <\/p>\n

Mentioned earlier that there’s more strength in the markets than I expected.<\/p>\n

Probably we’ll see $54-58K pre-halving as a potential peak. #Ethereum<\/a> remains strong and is the one to follow. pic.twitter.com\/uL5Nh2Tfu3<\/a><\/p>\n

\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) February 14, 2024<\/a><\/p>\n<\/blockquote>\n

Bitcoin Price Market Cap Reclaims $1T Mark<\/h2>\n

The remarkable rally this week has seen\u00a0Bitcoin<\/span><\/a>\u00a0not only stay buoyant but also on a north-facing trajectory. Investors ignored the US\u00a0CPI data<\/span><\/a>\u00a0disappointment on Tuesday, which showed inflation is not easing as expected. They bought the dip to $48,000, allowing BTC to resume the uptrend.<\/p>\n

For the first time in two years, Bitcoin reclaimed the $1 trillion market cap. This key milestone means that Bitcoin is now larger than giants like Tesla, Walmart, Berkshire Hathaway, and more. It is worth mentioning that market cap as a valuing method for crypto assets like BTC has its limitations, Glassnode explained.<\/p>\n

\n

#Bitcoin<\/a> has reclaimed the $1T market cap, a key milestone, for the first time since December 2021. It now has a bigger capitalization than giants such as Walmart, Tesla, or even Berkshire Hathaway. However, for valuing digital assets like $BTC<\/a>, market cap has its limitations\ud83e\uddf5<\/p>\n

\u2014 glassnode (@glassnode) February 14, 2024<\/a><\/p>\n<\/blockquote>\n

The ETF is emerging as a formidable force in the dynamics of the market in 2024. So far, over $4 billion in inflows have been recorded, with many terming the investment products \u201ca resounding success.\u201d<\/p>\n

\n

$4 billion in inflows is a very large number bitcoin ETFs are a resounding success pic.twitter.com\/9KtQxZJylc<\/a><\/p>\n

\u2014 Alex Kr\u00fcger (@krugermacro) February 14, 2024<\/a><\/p>\n<\/blockquote>\n

According to\u00a0SoSoValue<\/span><\/a>, the total net inflows reached $630 million, setting a new record high. Total net inflows have been on an upward trajectory for 13 consecutive days.<\/p>\n

IBIT holds the reins as the best-performing crypto with $493 million in net inflows on Tuesday followed by FBTC\u2019s $164 million and ARKB\u2019s $35 million.<\/p>\n

<\/p>\n

Read also:<\/b>\u00a0Breaking: Bitcoin Tops $51K With Ethereum Surpassing $2.7K, Here\u2019s Why<\/span><\/a><\/span><\/p>\n

Bitcoin Price Prediction: Pre-Halving Rally Keeps BTC On Toes<\/h2>\n

On Monday, Bitcoin surged past $50,000 and almost reached the $52,000 level, which is a key weekly resistance. The Relative Strength Index (RSI) indicator shows that Bitcoin is very close to being overbought, which suggests that the bullish trend is not over yet.<\/p>\n