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Economic Times
3 days ago
- Business
- Economic Times
Bitcoin beats Amazon in market value; Crypto breaches $120,000 to hit new peak
Bitcoin overtook Amazon in market value on Monday, climbing past the $120,000 mark for the first time and cementing its status as one of the world's most valuable assets. The cryptocurrency's market capitalisation surged to $2.43 trillion, eclipsing Amazon's $2.39 trillion, as investors rushed to price in regulatory breakthroughs and intensifying political support from US policymakers. ADVERTISEMENT Bitcoin rose as much as 1.5% in Asian trading to hit a new all-time high of $121,207.55. It was last quoted at $120,856.34, bringing its year-to-date gains to 29%. Ether, the second-largest token, also advanced, touching a five-month peak of $3,048.23 before easing to $3,036.24. The total digital asset market now stands at approximately $3.78 trillion, according to rally coincides with the start of a pivotal week in U.S. legislative circles. Beginning Monday, the House of Representatives will debate several bills including the CLARITY Act, Anti-CBDC Act, and GENIUS Act—proposals designed to give digital assets a clearer regulatory status and restrict the Federal Reserve from issuing central bank digital currencies. U.S. President Donald Trump, who has described himself as the 'crypto president,' has openly backed the digital asset industry and urged Congress to overhaul outdated rules."Bitcoin has smashed past $121,000, marking fresh all-time highs as institutional demand and policy tailwinds fuel the rally," said Himanshu Maradiya, Founder & Chairman of CIFDAQ. 'The latest surge follows last week's 10% rise, with over $289 million in short liquidations amplifying momentum. Bitcoin ETFs saw $1.2 billion in inflows on Thursday and $1.03 billion Friday, pushing total US ETF net inflows beyond $50 billion to date.'Maradiya noted that the growing alignment between pro-crypto policies, macro uncertainty, and the increasing accessibility of regulated investment vehicles is 'rapidly solidifying' Bitcoin's position as a mainstream asset. ADVERTISEMENT Nigel Green, CEO of financial advisory major deVere Group, said that Bitcoin could climb to $125,000 within days as market forces and political momentum converge.'Bitcoin has blasted through $122,000, and all the indicators point to $125,000 in sight this week,' Green said in a press release. 'It's being powered by deep political backing, new regulatory clarity, and sustained institutional inflows. This is a powerful combination we haven't seen at this scale before.' ADVERTISEMENT He highlighted the GENIUS Act in particular as a landmark measure that would create a national framework for stablecoins, one of the most significant regulatory steps by the U.S. to date.'This is not crypto on the fringe anymore,' Green said. 'This is front and center of US financial policy. Trump is championing it, lawmakers are acting on it, and Wall Street is all-in.' ADVERTISEMENT Green said flows into US-listed spot Bitcoin ETFs have reached record levels, with asset managers like BlackRock and Fidelity continuing to scale up their exposure.'Wall Street has crossed the Rubicon,' he said. 'The capital is committed. The infrastructure is there. The political will is building. The market is responding exactly as we expected.'The deVere group, which has previously projected Bitcoin to hit $150,000 in this market cycle, said that view remains intact, though short-term volatility is expected. ADVERTISEMENT 'The trajectory to $150K is intact, but investors should expect a sharp move to $140K, then a healthy sell-off before we power higher,' Green said. 'Investments of this magnitude don't move in straight lines. They surge, cool, consolidate, then break out again. That's the phase we're entering.'Bitcoin's market capitalisation now stands at $2.43 trillion, surpassing Amazon and trailing only a handful of publicly traded giants. Gains in crypto-linked stocks, including U.S.-listed miners and ETF proxy plays, have also intensified in recent weeks.'The scale of capital entering the space is rewriting the map,' said Green. 'This isn't hype. This is asset reallocation on a global level.''The $125K milestone is within reach now, and when it comes, it will confirm what we've been saying: that Bitcoin is not only back, but can be expected to break through every ceiling put in front of it if the momentum continues,' said Green. Also read | Bitcoin surges past $120,000 to fresh all-time high (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Economic Times
24-06-2025
- Business
- Economic Times
Bitcoin crosses $105,000 amid geopolitical relief and ETF inflows; Sui, Chainlink jump up to 15%
Bitcoin price increased beyond $105,000. This surge happened because of reduced global tensions and more investments in ETFs. Ethereum also saw a rise. Other cryptocurrencies like Solana and XRP also gained value. Market experts suggest that if the US Federal Reserve indicates interest rate cuts, Bitcoin might rise further. Regulatory changes are also supporting this upward trend. Tired of too many ads? Remove Ads Crypto TrackerPowered By TOP COINS TOP COIN SETS XRP 187.63 ( 7.27 %) Buy Solana 12,416 ( 6.73 %) Buy Ethereum 2,07,047 ( 5.67 %) Buy Bitcoin 90,53,536 ( 2.54 %) Buy BNB 55,079 ( 1.83 %) Buy Popular in Markets Bitcoin surged past the $105,000 mark on Tuesday, buoyed by easing geopolitical tensions and strong inflows into spot ETFs. As of 12:31 pm IST, the world's largest crypto currency was up 3.7% at $105,785. Ethereum also posted strong gains, rising 8% to $2,430. The broader crypto market added 4.74% to touch a market capitalisation of $3.27 trillion, according to rally came after US President Donald Trump announced a ceasefire agreement between Iran and Israel, alleviating concerns of prolonged geopolitical instability and potential disruptions in global oil supply altcoins mirrored Bitcoin's rally. Solana and Sui rose 9% and 15%, respectively, while Chainlink jumped 12%. Other notable gainers included XRP (8.4%), Dogecoin (8%), Avalanche (8%), and Shiba Inu (10%).'The ceasefire alleviated immediate concerns about global oil disruptions and restored geopolitical stability, prompting capital to flow back into risk assets,' said Edul Patel, Co-founder and CEO of Mudrex. 'If Fed Chair Jerome Powell hints at rate cuts in his speech today, Bitcoin could break above the $107,700 resistance,' he Subburaj, CEO of Giottus, noted that the rally was supported by spot Bitcoin ETFs registering $133 million in inflows. 'Despite short-term holders reacting to geopolitical news by moving 14,700 BTC to exchanges, the overall structure shows ongoing accumulation,' he Vishwanath, Co-Founder and CEO of Unocoin, said the current surge is part of a broader trend driven by institutional support. 'Bitcoin has swept liquidity at $100K and now eyes the $110K–$112K zone. If bulls defend $102K, the next leg could aim for $120K,' he CoinDCX Research Team highlighted that this momentum coincides with regulatory tailwinds. 'The Federal Reserve has removed the 'reputational risk' clause penalising Bitcoin and crypto. Saylor's MicroStrategy added another $26 million worth of Bitcoin, now holding 592,345 BTC valued at $41.87 billion,' they said. They also pointed out that Europe's Blockchain Group recently bought 75 BTC, pushing its total holdings to 1,728 Crypto Fear and Greed Index climbed to 65, re-entering the 'Greed' zone, signalling rising investor confidence. Analysts warn, however, that elevated funding rates could lead to temporary pullbacks.'Capital is rotating into majors, and with Bitcoin dominance at 64.5%, this signals market strength. But traders should stay cautious near $110K—whether it's a breakout or bull trap will shape the next wave,' Vishwanath markets await Powell's remarks, traders are watching closely for cues on interest rate policy. Any dovish signal could amplify the current momentum, possibly pushing Bitcoin toward new all-time Read: XRP could hit $5 by 2025, Solana eyes $300: Bitget analyst explains what's driving the rally (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
