Bitcoin (BTC) has leapfrogged Google to become the fifth-largest asset in the world. As it broke past $94,000 and hit $1.86 trillion in market capitalization, BTC reclaimed its throne as the market’s most disruptive force. Meanwhile, Alphabet Inc. (Google) stock price has also printed a green index over the last day.
The digital assets market recorded a fresh influx of funds as investors’ sentiments turned back to normal. The cumulative crypto market cap surged by almost 7% in the last 24 hours and is trying to regain the $3 trillion mark. Its 24-hour trading volume spiked by 53% to stand at $137 billion.
Bitcoin hits ATH in asset rankings
This is the highest ranking Bitcoin has ever reached, even though its market cap once topped $2 trillion back when prices soared above $109K. However, this time tech stocks aren’t flying quite as high as they were earlier, which has made Bitcoin’s ascent even more dominant.
Bitcoin price jumped by more than 6% in the last 24 hours. BTC is trading at an average price of $94,132 with a trading volume of $59.2 billion. However, it is still down by 13% from its all-time high of $109K. Its market cap stands at $1.864 trillion.
Data shows that US spot Bitcoin ETFs have bagged the biggest inflow of $912.7 million since President Donald Trump took office. With the ongoing surge, Bitcoin dominance has hit 63.41%.
Google stock price has managed to surge by over 2% after the downturn. It is trading at an average price of $153.90 while it is still up 2.2% in the pre-market trading session and is expected to hit $157. It looks like there is a lot to cover for Google as it is still trailing by 9.43% over the past month. Its market cap stands at $1.859 trillion.
Gold cools down after new highs
As per the rankings, Nvidia stands above Bitcoin at the 4th spot, and Gold still leads the category with a market cap of $22.39 trillion. Gold price took a dip of 2% on Wednesday morning after hitting a new all-time high and is trading at $3,326.54 at the press time. Apple (AAPL) has secured the second spot with a cap of $3 trillion.
Fresh optimism from easing US-China tariff tensions has lit a fire under both Bitcoin and Nasdaq futures, which are up 2%. BTC is now outperforming the Nasdaq itself which is a rare signal of broader asset class rotation. This all happened after Donald Trump said he won’t fire Fed Chair Jerome Powell and floated the idea of dialing down China tariffs.
The dollar spiked, then settled, and even Tesla shot up 6% after Elon Musk said he’s stepping back from his government advisory work. Stoxx 600 gained 2% as Europe joined in. Traders are now learning to keep one eye on the charts and the other on the tweet.
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