According to data from CoinMarketApp, bitcoin (BTC), the world’s leading crypto asset, has seen a surge in its value. Giving a fresh start to Thursday, the apex coin has soared to reach $124,500, setting a new all-time high. Its trading volume also saw an over 30% rise to surpass $95 billion as the market sentiment turned extremely bullish.
Following the upsurge, bitcoin’s market capitalization now stands at $2.45 trillion. Thus, it has risen above Amazon and Google to become the world’s fifth-largest asset by market cap.
Bitcoin’s Latest All-time High
Earlier this month, a few investors exited their position, believing that the 2025 bull run had come to an end. Consequently, bitcoin formed many bearish candles and tumbled below the $112,000 mark. Amid the bear, BitMEX co-founder Arthur Hayes predicted that BTC would witness a further downtrend to the $100,000 mark before price recovery.
However, the market has gone bullish once again as investors continued to scoop up sats. Notably, following Thursday’s uptrend, the number of addresses holding over 100 bitcoins also hit a new all-time high of approximately 19,000, signaling increased investor demand and activity.
Moreover, data from Farside showed that indirect BTC investors also contributed to the uptrend as the U.S.-approved bitcoin investment funds have ended about six business days on the bullish side with over $1.1 billion inflows in this period.
Meanwhile, not everyone in the crypto market is pleased with the uptrend. Thousands of bearish leverage traders have lost almost $300 million in the past 24 hours as the market moved in a different direction. CoinGlass revealed that a trader on the Bybit exchange lost $10 million as a result of the sharp uptrend.
Altcoins Join Uptrend
Notably, other cryptocurrencies joined the upward movement, thus the entire crypto market capitalization rose to $4.2 trillion. Ethereum (ETH), which has become investors’ favorite over the past few weeks, is up by over 60% within the past 30 days. At the time of writing, it trades above $4,785 and is about 1.5% away from hitting a new all-time high.
Solana (SOL), the world’s sixth-largest crypto, has seen more than a 30% surge in the past month and trades around $210 for the first time in six months. Its market cap is also up to over 5% in the past 24 hours and sits around $113 billion, and the market fear and greed index (FGI) on the coin is at 85, signalling extreme bullish sentiment.
Meanwhile, with BTC, ETH, and SOL making waves in the market, many institutional investors that adopted these cryptos as reserve assets have witnessed a significant surge in profits and stock prices.
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