Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Bitcoin Hits Major Milestone of $100K, Nears $2 Trillion Market Value

Bitcoin Hits Major Milestone of $100K, Nears $2 Trillion Market Value

Bitget Academy2024/12/05 05:38
By: Bitget Academy
BTC+0.04%COMP-1.40%ETH+0.12%
Bitcoin's price has surged past the $100,000 mark for the first time in its history, fueled by institutional demand, corporate accumulation and heightened expectations of crypto-friendly policies under Donald Trump's presidency. Bitcoin tops $100K (BrayLockBoy/Wikimedia Commons, modified by CoinDes

Bitcoin's price has surged past the $100,000 mark for the first time in its history, fueled by institutional demand, corporate accumulation and heightened expectations of crypto-friendly policies under Donald Trump's presidency.

Bitcoin Hits Major Milestone of $100K, Nears $2 Trillion Market Value image 0

Bitcoin tops $100K (BrayLockBoy/Wikimedia Commons, modified by CoinDesk)

Now ahead about 130% year-to-date, bitcoin's market capitalization has risen to just shy of $2 trillion only 15 years after coming into existence. For reference, Nvidia and Apple sport market caps of about $3.5 trillion, Microsoft $3 trillion, and Google and Amazon $2.2 trillion. The market capitalization of all the gold in the world is roughly $17.7 trillion.

At the forefront of this rally was the early-2024 launch of spot-based bitcoin exchange-traded funds (ETF) by asset management giants including BlackRock and Fidelity. These products have been a resounding success, securing assets under management of around $30 billion in less than one year's time.

Despite the success of the ETFs, the move higher in bitcoin seemingly stalled throughout a large chunk of this year, at least in part thanks to regulatory uncertainty surrounding the U.S. presidential election. The early November victory of crypto-friendly Donald Trump, though, spurred new legs for the rally, with bitcoin quickly taking out its March high above $73,500, then in fast time moving past $80,000, then $90,000, and finally $100,000.

Source: CoinDesk

 

Futures Market Updates

As Bitcoin crossed the $100K mark, funding rates rose to the whopping 0.1075% on BTC futures markets and 0.0677% on ETH futures markets.

Bitcoin Futures Updates

Total BTC Open Interest: $64.81B (+11.09%)

BTC Volume (24H): $142.96B (+79.54%)

BTC Liquidations (24H): $41.67M (Long)/$130.96M (Short)

Long/Short Ratio: 49.01%/50.99%

Funding Rate: 0.1075%

 

Ether Futures Updates

Total ETH Open Interest: $26.02B (+7.53%)

ETH Volume (24H): $80.09B (+57.08%)

ETH Liquidations (24H): $27.16M (Long)/$61.43M (Short)

Long/Short Ratio: 47.96%/52.04%

Funding Rate: 0.0677%

 

Top 3 OI Surges

GMCI30: $98.39K (+502.11%)

COMP: $61.60M (+89.17%)

SWELL: $31.66M (+79.83%)

 

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

New spot margin trading pair — HOLO/USDT!
Bitget Announcement2025/09/12 07:46
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

Bitget-RWA2025/09/12 06:14
OPEN has dropped by 189.51% within 24 hours during a significant market pullback

- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

Bitget-RWA2025/09/12 06:14
New spot margin trading pair — LINEA/USDT!
Bitget Announcement2025/09/11 10:04

Trending news

More
1
New spot margin trading pair — HOLO/USDT!
2
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

Crypto prices

More
Bitcoin
Bitcoin
BTC
$116,001.59
+0.17%
Ethereum
Ethereum
ETH
$4,675.57
-0.63%
XRP
XRP
XRP
$3.12
+0.47%
Tether USDt
Tether USDt
USDT
$1
-0.01%
Solana
Solana
SOL
$245.65
+1.33%
BNB
BNB
BNB
$935.21
+0.77%
USDC
USDC
USDC
$0.9998
+0.00%
Dogecoin
Dogecoin
DOGE
$0.2882
+3.65%
TRON
TRON
TRX
$0.3506
-0.45%
Cardano
Cardano
ADA
$0.9232
-0.47%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter