CandleFocus Bitcoin surpasses Silver's market cap, establishing itself as mainstream financial asset
2024-11-19
Author: Content Editor
The latest "Bitfinex Alpha" report suggests that Bitcoin's surge to over $90,000 has strengthened its alignment with mainstream financial assets. Bitcoin reached a new all-time high of $93,318, making it the eighth-largest traded asset globally and surpassing silver's market value. However, profit-taking has led to a consolidation phase, and retail activity is still below levels seen during the 2021 bull run. The report also highlights the record-breaking capital inflows into US spot Bitcoin ETFs, with analysts expecting Bitcoin ETFs to surpass the market cap of gold ETFs within two months. This demonstrates growing investor confidence in digital assets as part of the global financial ecosystem.
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