Last night, Bitcoin (BTC) hit a new all-time high of $124,000. Let’s take a closer look at this new record.
Bitcoin (BTC) hits a new ATH
Exactly one month ago, Bitcoin (BTC) reached an all-time high (ATH) of $123,000. Overnight, this record was narrowly broken, reaching just over $124,000:
At the time of writing, the price of BTC has corrected slightly and is now trading at around $122,600, up 2.9% over 24 hours.
There is no particularly noteworthy news to explain the reasons behind this rise, and the asset is simply continuing its summer uptrend. At the peak of this rise, it is worth noting that Bitcoin’s market capitalization temporarily exceeded that of Alphabet (Google) at $2.448 trillion, before falling back to sixth place among the world’s largest assets, with a market capitalization of $2.441 trillion.
Speaking of records, the total market capitalization of cryptocurrencies also set a new ATH, now standing at $4,280.92 billion.
While this new record was set rather timidly, we will be able to judge the strength of the trend over the next few days.
