In recent days, Bitcoin has marked a significant surge, surpassing the $90,000 level and drawing widespread attention across the markets. This cryptocurrency witnessed a major upward trend, especially after Donald Trump’s re-election as President of the United States. Bitcoin, which stood at $68,000 on election day, broke through the $90,000 barrier within a week, climbing to an all-time high. This increase has fueled intense interest and speculation around Bitcoin.
Bitcoin Surpasses the $90,000 Mark
Bitcoin soared as high as $93,850, successfully breaking past previous resistance levels, though it briefly retreated to $88,000 under selling pressure. However, the cryptocurrency quickly rebounded, holding its ground above this new peak and returning to the $90,000 range. Major inflows into U.S.-based Bitcoin ETFs have helped BTC maintain its levels. Analysts caution that while the market momentum remains strong, the potential for a pullback in Bitcoin’s price cannot be ignored.
With Bitcoin’s latest ascent, its market capitalization has reached $1.8 trillion, positioning it among the world’s largest assets, even surpassing Saudi Aramco in ranking. Bitcoin’s dominance in the cryptocurrency market has also risen, now at 61%, reaching the highest level in 3.5 years.
This increased dominance further underscores Bitcoin’s central role in the cryptocurrency market. Alongside Bitcoin, altcoins have also seen notable gains, with Ethereum (ETH), Solana (SOL), and Cardano (ADA) drawing attention for their own price increases.
The altcoin market has moved in tandem with Bitcoin’s rise. Several major altcoins such as SOL, ADA, XRP, DOGE, BNB, SHIB, AVAX, BCH, and LEO have experienced increases of up to 10%, while meme coins like WIF and PEPE have recorded extraordinary gains of between 45% and 75%. These assets have attracted significant investor interest following support from Coinbase and announcements of U.S. exchange listings.
The total value of the cryptocurrency market now approaches $3.15 trillion. According to the International Monetary Fund, this valuation places the crypto market as the eighth-largest economy globally. Bitcoin, with a market cap of $1.805 trillion, currently sits just behind Alphabet, Google’s parent company. To overtake all tech giants, Bitcoin would need to nearly double its market cap; however, gold’s valuation still remains about five times that of Bitcoin.
Ethereum’s Ascent
Ethereum has also joined the upward trend with Bitcoin. On November 10, Ethereum’s price reached $3,200, enabling it to surpass Bank of America in market capitalization, solidifying its position among the world’s top 30 assets, ahead of giants like Netflix and Johnson & Johnson.
Ethereum’s strategic role in decentralized finance and non-fungible tokens remains a core driver of its value growth. Crypto analysts predict that as these sectors expand, Ethereum will continue to appreciate in value.
