On June 27, Bitcoin became the sixth asset in the world by market capitalization, surpassing Google. With a current price above $107,000, the cryptocurrency continues to attract investors' attention.
Bitcoin Ranks Sixth Among Valuable Assets
On June 26, Bitcoin reached a market cap of $1.128 trillion, surpassing Google, currently valued at $2.11 trillion. Bitcoin is now the sixth most valuable asset in the world.
Current Bitcoin Price Surpasses $107,000
At the time of writing, Bitcoin is trading above $107,000, bouncing back after a brief dip below this level. The cryptocurrency market is awaiting reactions to the expiration of Bitcoin and Ethereum options, which could also influence the price.
Factors Supporting Bitcoin's Price Growth
Key factors contributing to Bitcoin's price resilience include:
1. Institutional Interest: On June 26, significant inflows of over $228 million were reported in Bitcoin ETFs in the US, indicating growing interest from institutional investors.
2. The end of the Israel-Iran war has also created a positive sentiment in the crypto market.
3. Continued Bitcoin accumulation by countries and cryptocurrency-centric companies, including the accumulation strategy of Bitcoin by countries like El Salvador and Bhutan.
Despite the volatility in the market and global geopolitical complexities, Bitcoin and the entire cryptocurrency market remain optimistic due to ongoing global adoption and hopes for better prospects.
