Bitcoin price finally managed to break the all-time high set in January, with a new record reaching almost $112,000 earlier today. At the same time, Bitcoin’s market capitalization surged past $2.2 trillion, cementing its position as the world’s fifth largest asset.
Bitcoin first broke above $100,000 on May 8 and has maintained a six-figure price since then. In the following weeks, it moved in a tight range between $103,000 and $105,000, with several false attempts to break through resistance and support levels. The end of last week saw another surge upwards that was initially blocked by selling pressure. However, yesterday, buyers took full control of the market, breaking through resistance and setting a new record of almost $112,000 in Monday morning trading in Asia.
Despite a slight dip in price to around $110,500, Bitcoin’s market cap now tops $2 trillion, making it the world’s fifth-largest asset, ahead of giants like Amazon and Alphabet (Google), but still behind Apple and gold, which remain the main leaders.
Meanwhile, altcoins also performed well. ETH surged 5% to over $2,650, while XRP rose 3.8% to above $2.40. BNB soared above $680 after a 5% daily surge. With the majority of small and mid-cap altcoins also in the green, the total crypto market cap has now surpassed $3.6 trillion, up over $120 billion in just 24 hours.
