Bitcoin, the world’s largest cryptocurrency by market capitalization, recorded its biggest daily gain in history on Nov. 11.
The crypto king managed to add $8,343 to its price within a single day.
The previous record was set on Feb. 8, 2021. Back then, the leading cryptocurrency logged a daily gain of $7,576, surging from $38,871 to $46,448. This, of course, was the day when e-car maker Tesla stunned market participants by announcing a $1.5 billion Bitcoin purchase.
The next three biggest daily moves were all recorded during this year. In 2024, Bitcoin ETFs emerged as a powerful bullish narrative. Notably, spot Bitcoin ETFs have recorded $3.5 billion worth of inflows in just four trading sessions.
Bitcoin flips silver
On Monday, the largest cryptocurrency soared to a new record high of $89,560, skyrocketing by nearly 30% within a single week.
The market cap of the world’s leading cryptocurrency currently stands at $1.75 trillion.
Following the most recent price surge, Bitcoin has now managed to surpass silver.
As reported by U.Today, Blockstream CEO Adam Back recently predicted that the largest cryptocurrency could also potentially surpass the market cap of gold during this cycle.
