- Bitcoin surpasses Google in market cap, becoming the fifth-largest asset globally at $1.864 trillion.
- Crypto market nears $3T as Bitcoin gains 6% and trading volume spikes 53% in 24 hours.
- Trump’s softer stance on Powell and China tariffs lifts sentiment across crypto and equities.
After surpassing Google (Alphabet Inc.) by market cap, Bitcoin has become the fifth largest asset in the world. The price of Bitcoin reached $94,132 and pushed its market capitalization to $1.864 trillion, beating Google’s which is valued at $1.859 trillion.
This comes as digital assets globally rise. In the last 24 hrs, Bitcoin has had a 6.2% gain and has a daily trading volume of $59.2 billion. The total cryptocurrency market capitalization is almost 7% higher than that, up to the level of $3 trillion. This uptick came while trading volume rose overall across the floor covering sector by 53 percent, suggesting renewed investor interest.
Bitcoin Rises as Traditional Markets React to Policy Shifts
Bitcoin now sits just below Nvidia (as it now holds the fourth position) in the asset ranking while gold still sits at the top of rankings with a market cap of $22.39 trillion. It’s the highest place Bitcoin has ever been on the chart, although that’s 13 percent less than its record price of $109,000.
Macroeconomic developments have been influencing the current rise in Bitcoin’s valuation. Recently, former U.S. President Donald Trump said he would not remove Federal Reserve Chair Jerome Powell from his post. This statement reduced uncertainty about U.S. monetary policy. On Tuesday, Trump mentioned the possibility of halving tariffs on Chinese goods, and it was enough to cheer global markets.
The Nasdaq increased by 2 per cent and Europe’s Stoxx 600 increased by the same percentage. Marking a non usual change in asset class performance, Bitcoin’s gains are outpacing those of the broader technology market. Elon Musk’s decision to step down from government advisory duties sent Tesla’s stock 6 percent higher.
ETF Inflows and Bitcoin Dominance Strengthen Market Momentum
Since the entry of president Trump into office, the U.S. spot Bitcoin ETFs recorded their largest single day net inflow totaling $912.7 million. The inflows are pointing to growing institutional participation, a trend that is supporting price strength and market dominance of Bitcoin.
While the price of Bitcoin climbed up the rankings, Google’s market activity saw slight recovery. Alphabet’s (Google) stock price rose by more than 2% and now trades at $153.90 on average. Pre market trading has the stock up 2.2% and may reach $157, but it remains behind Bitcoin in valuation. The past month has not been kind either to Google — it maintains a market cap down 9.43%.
Meanwhile in the commodities space, Gold prices came down by 2 percent on Wednesday from new highs. It is now selling at $3,326.54 per ounce. Gold continues to lead all assets in global market cap rankings.
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