Bitcoin hits $1 trillion market cap again as $217 million liquidated in 24 hours

exchange68September 12, 2024

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Quick Take

Currently, Bitcoin’s value is around $51,500, successfully surpassing the $1 trillion market cap. This ascension places it above some of the world’s leading corporations. Berkshire Hathaway’s market cap hovers around $850 billion, marking it the eleventh-largest entity. Meanwhile, Meta, standing ninth in the global ranking, carries a market cap of $1.173 trillion.

BTCUSD Market Cap: (Source: Trading View)

Bitcoin last experienced a $1T market cap in November 2021. Bitcoin’s value is roughly 25% lower than its all-time November 2021 high of $69,000.

Further, $53m in liquidations, primarily from short liquidations, occurred in the past hour, per Coinglass data. This figure significantly increases when accounting for the past 24 hours, with over $217m liquidated.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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