Bitcoin (BTC) is now back on the path towards $12,000 after being rejected at this threshold two weeks ago. Bitcoin is currently trading at around $11,880 but touched a peak of $11,942 earlier today.
At its current value, Bitcoin has a market capitalization of $220.3 billion, which is around $6 billion less than its peak market capitalization in 2020 that was achieved on August 18. The cryptocurrency has now gained 3% in the last 24 hours and 1.5% in the last week as a result of a sudden uptick in interest in the general cryptocurrency market, representing modest gains in the short term.
Scaling further back, Bitcoin is up 66% year-to-date (YTD) and 24.2% in the last year—indicating a bullish medium-term trend.
Though Bitcoin has slightly appreciated in value in the last month, its daily trading volume has diminished somewhat over this period—dropping from around $28.5 billion per day in early August to $24 billion per day today.
As a result, Bitcoin trading volumes are now down almost 16% in a month. Likewise, Bitcoin has also seen its dominance among cryptocurrencies collapse over the last year, falling from a peak of almost 70% in September 2019 down to a 2020-low of 56.7% today.
Buffett’s move into Japan, along with his $GOLD investment, confirms he’s getting out of $USD BIGLY $USD is trending lower today, about to break key support #Bitcoin - Gold - Silver
Despite its relative weakness in terms of absolute growth, Bitcoin bull Max Keiser said that the cryptocurrency is likely to achieve a new all-time high (ATH) in the near term. This means he predicts Bitcoin will exceed $20,000 relatively soon. In addition to Bitcoin, Keiser notes that both gold and silver are due to achieve an ATH soon—even though both have already recorded back-to-back peaks this year. But that might just be hopeful thinking.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.
President Trump's plan to include altcoins in a strategic crypto reserve has split the crypto community, with some perplexed by the proposed addition of a number of high-profile tokens.
Revealed Sunday on Truth Social, the proposed crypto plan would create a strategic reserve that seeks to include XRP, Solana, Cardano, Bitcoin, and Ethereum.
President Donald Trump’s announcement triggered significant upswings across the crypto market after a broader dip that followed Bybit’s $1.4 billion theft...
A surge of state-level Bitcoin reserve proposals across the U.S. has hit a roadblock, after multiple states rejected bills to invest public funds in the leading crypto.
Of the 50 U.S. states, over 20 have introduced or are considering legislation related to Bitcoin reserves or investments in digital assets, but the fate of many of these bills remains uncertain.
But over the past few weeks, several states—including Montana, South Dakota, North Dakota, Pennsylvania, and Wyoming—have dealt setback...
Meme coins are down bad. Dogecoin (DOGE) is down 60% from its 2024 high, Pepe (PEPE) has dropped 73% from its all-time high, and Dogwifhat (WIF) has plummeted 88% from its peak. Not only that but the trenches are drying up too.
Popular launchpad and cultural hub Pump.fun launched 64.6% less tokens on Wednesday than it did during its high achieved in January. Alongside this, according to Dune data, the weekly graduation rate of tokens is the lowest it's been since July 2024—a token graduates when...