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Bitcoin market capitalization has reached an impressive $1.35 trillion, expanding its lead over Ethereum by more than $1 trillion. With BTC price trading just above $68,000, this rise in market cap has sparked a renewed wave of optimism among traders and analysts alike. Over the past week, Bitcoin has surged 8.9% amid its high dominance in the market.
“Bitcoin now holds a $1 trillion market cap lead over Ethereum, marking a new all-time high (ATH) for the spread,” said Glassnode’s lead analyst James Check in an X post on October 19. In response to claims that Ethereum could stage a significant comeback, Check played devil’s advocate, expressing doubts about Ethereum’s ability to close the gap anytime soon.
While Bitcoin is celebrating this milestone, Ethereum’s market capitalization remains at $318.32 billion. This massive difference between the two leading cryptocurrencies comes as BTC hit $67,000 for the first time since July, pushing its total value to $1.34 trillion — a level not seen since earlier this year.
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More Room for Bitcoin Growth
Some industry experts believe this is just the beginning for BTC market cap growth. Crypto analyst Dylan LeClair shared his bullish outlook during a recent interview with Fox Business, stating that BTC represents a “$100 trillion idea” with boundless potential. The long-term promise of Bitcoin, according to LeClair, stems from its status as an emerging financial technology with the capacity to reshape global markets.
Similarly, Bitcoin maxi Kyle Chasse took to X to encourage his followers to do the math, pointing out that BlackRock CEO Larry Fink recently likened Bitcoin to the early days of the mortgage market, suggesting its room for exponential growth.
Among the World’s Largest Assets
Currently, Bitcoin is ranked as the tenth-largest asset in the world by market capitalization, trailing just behind Meta Platforms, which boasts a market cap of $1.46 trillion. While some traders and investors argue that the crypto market has yet to see the kind of exuberance that typically precedes a major correction, others remain steadfast in their belief that Bitcoin is still in its early stages.
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As of publication, BTC is trading at $68,152, continuing to make headlines and solidifying its position as the leading cryptocurrency by a considerable margin.
