- The Google Finance data lists that the market capitalization has so far surpassed Microsoft’s market cap. It is also very close to that if surpassing Nvidia and Apple.
- According to the CoinMarketCap crypto fear and greed index, the market sentiment has reached 87 mark which shows an extreme greed situation.
- The sole market capitalization of Bitcoin stands at more than $1.77 trillion.
The crypto industry has achieved a new milestone as the overall capitalization of the crypto market has surpassed $3.12 trillion and has recorded a new all-time high. According to the reports, this new mark is very close to that of the gross domestic product of France.
Yesterday, the overall market capitalization went up by 7% in the past day and most of the gains were driven by Bitcoin, which skyrocketed and stood at $89,500.
At the same time, the sole market capitalization of Bitcoin stands at more than $1.77 trillion. The International Monetary Fund reveals that this market capitalization is bigger than the GDP of Spain.
Before this, on November 15, the overall market capitalization of the crypto industry stood at $3 trillion. This event was driven by Bitcoin reaching its previous all-time high of $69,000 in 2020 and showed a probability of recording a new all-time high.
The extreme greed situation
The Google Finance data lists that the market capitalization has so far surpassed Microsoft’s market cap. It is also very close to that if surpassing Nvidia and Apple.
The Bitcoin price rally has also pushed its market cap above various giants such as Silver, Meta Platforms (Facebook), Tesla, Berkshire Hathaway, and many others.
According to the CoinMarketCap crypto fear and greed index, the market sentiment has reached 87 mark which shows an extreme greed situation. Moving forward with the data, yesterday it was 79, which was a greedy situation and the past week as well as the past month’s data shows a neutral situation by standing at 50 and 43 respectively.
In the last one week, Bitcoin has gone over 30%. In the last 24 hours, Polkadot (POL) and Solana (SOL) were up by 5% and 3% respectively. At the same time, the famous memecoin, Dogecoin (DOGE) was 23% and 90% up in the last 24 hours and the last week respectively.
The Bitcoin’s dominance
A crypto analyst at BTC Markets, Rachael Lucas shared her thoughts and commented that a crypto rally toward $ 4 trillion would probably be influenced by the great surge in altcoins and as a result it has caused a great reduction in Bitcoin’s dominance.
Another person who is a founder of 10x Research, Markus Thielen mentioned that he anticipates the dominance of Bitcoin to be strong as crypto rally toward $4 trillion is recorded. He also believes that the recent rally is mainly focused on Bitcoin and carried on towards Ethereum and Solana.
At the press time, the price of Bitcoin is 9.67% up in the last 24 hours and is currently trading at $89,137.
