Bitcoin (BTC) is closest to the $100K mark, after topping a new all-time high (ATH) of $99,199.81. It is currently quoted at $99,046, up 1.376% in the past 24 hours. As a result of this surge, Bitcoin related stock, the Bitcoin Industrial Complex, surpassed a trading volume of $70 billion today.
The current market sentiment for Bitcoin is in sync with our Bitcoin Price Prediction trends, and it might even reach a maximum value of $99,917, by the end of the year 2024.
Bitcoin current market trend
The market cap for BTC has jumped by 1.19%, now standing at a staggering $1.96 trillion. The 24-hour market volume has also increased by 13.85%, settling at $97.68 billion.
With a market cap growing at this pace, Bitcoin is just a few figures away from overtaking Alphabet (Google), which has a market cap of $2.06 trillion, and claiming the title of the sixth most valuable asset globally.
In response to this development, the probability of BTC reaching $100K in November has already reached 94%, according to market prediction platform, Polymarket.
Another bettors’ poll on Polymarket says the probability of BTC reaching $105k stands at 55%. Meanwhile, 87% bettors on Kalshi feel that Bitcoin will reach the $100k mark well before December.
Top gainers
Speaking of top gainers, according to the latest MicroStrategy holdings report, the company currently holds approximately 331,200 BTC, now valued at an impressive $32.8 billion (approx.). The Royal Government of Bhutan holds 12.218K BTC, valued at nearly $1.21 billion. Meanwhile, the El Salvador government holds 5.942K BTC, with a current value of approximately $588.05 million.
Bitcoin’s success isn’t limited to crypto enthusiasts; even traditional investors are feeling the impact. Yesterday, the net inflow into US Bitcoin spot ETFs reached $1 billion. Notably, BlackRock’s BIT saw net inflows of $608.41 million, while Fidelity’s FBTC recorded $301.95 million. Additionally, Nate Geraci, President of The ETF Store, noted on social media that US Bitcoin spot ETFs have seen cumulative net inflows exceeding $30 billion since their launch.
Also Read: Bitcoin Approaches $100,000 Milestone Amid Trump’s Crypto-Friendly Stance
Source: https://www.cryptonewsz.com/with-99000-ath-bitcoin-nears-100k-btc-related-stock-soars/