Bitcoin (BTC) market capitalization has overtaken silver following the coin’s surge to a brand new all-time excessive above $118,000.
In line with Corporations Market Cap, Bitcoin is now sitting within the sixth place among the many world’s largest firms, metals, and digital property, with a market cap of $2.34 trillion.
Silver follows at spot quantity seven, with $2.163 trillion in market capitalization.
High property by market cap:
Tech giants Google and Meta are behind BTC and silver, with $1.15 trillion and $1.79 trillion, respectively.
Notably, Bitcoin is at the moment near coming into the highest 5 property. It has an opportunity to overhaul Amazon as properly. The large firm has a market cap of $2.37 trillion, about $3 trillion greater than BTC.
In the meantime, gold nonetheless reigns supreme. The primary place boasts a whopping market cap of $22.6 trillion.
NVIDIA is a distant second, recording $4 trillion. Microsoft and Apple observe, standing within the $3 trillion vary.
Analysts have famous Bitcoin’s maturation and stability, particularly for a risky asset, in the course of the ongoing turbulent interval. Particularly, it noticed important institutional curiosity and was consolidating above $100,000 for days earlier than surging to a brand new all-time excessive – all of the whereas defying main macroeconomic uncertainty and international geopolitical tensions.
Per Petr Kozyakov, co-founder and CEO at Mercuryo, BTC surged previous $118,000 “amid sustained institutional demand for the most important cryptocurrency, which has been such a driving power on this present market cycle.”
He continues: “Whereas altcoins are additionally within the inexperienced with Ethereum spiking previous the $3,000 mark, the underlying ‘orange capsule’ narrative stays steadfastly in place. Bitcoin’s rising standing as a retailer of worth is one which increasingly large gamers and establishments are merely unable to disregard.”
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‘We’re Solely at Starting of New Part in This Market’
The crypto market has seen a big surge. The market cap is up 2.8% within the final 24 hours to $3.76 trillion.
On the time of writing, BTC trades at $117,884. The coin hit a brand new all-time excessive of $118,667 earlier right now. The present worth can also be a surge from the intraday low of $110,984. Additionally, it’s up 9.1% in per week, 7.5% in a month, and 101% in a 12 months.
Furthermore, analysts and traders are ready to see if BTC will surpass the $119,000 and $120,000 ranges, which might propel it in the direction of $130,000. Bitpanda’s Deputy CEO Lukas Enzersdorfer-Konrad argues that “we’re properly on observe to interrupt by the $120,000 barrier.” Macroeconomic elements, record-high ETF inflows, and renewed confidence in digital property drive the rally.
“The crypto market tends to maneuver in cycles, evolving section by section and wave by wave. It’s very attainable that we’re solely at first of a brand new section on this market,” Enzersdorfer-Konrad says.
BTC is Now Extra in Demand Than Ever
Furthermore, Nicolai Sondergaard, analysis analyst at Nansen, argued that this isn’t a macro-driven rally, however an remoted occasion. Nonetheless, latest US coverage developments, “reminiscent of fiscal enlargement and expectations of additional financial easing, have created a backdrop that’s undeniably favorable for Bitcoin.”
Additionally, he provides, we’re seeing rising institutional confidence in BTC as a stability sheet asset and robust, sustained inflows into BTC and ETH spot ETFs.
Whereas $BTC has made a brand new ATH above $118K, Lengthy-Time period Holder Web Unrealized Revenue and Loss (NUPL) stays under the euphoria zone, at the moment at 0.69. This cycle has seen simply ~30 days above the 0.75 threshold, in comparison with 228 days within the earlier cycle. pic.twitter.com/qFEUbmK7r3
— glassnode (@glassnode) July 11, 2025
Moreover, Zondacrypto’s CEO Przemysław Kral commented that “Bitcoin’s newest ATH additional cements its rising function within the international monetary system,” now being “extra in demand than ever.”
Elements rising demand for Bitcoin embody clearer and extra favorable laws, elevated utility reminiscent of funds, and altering financial circumstances, Kral says. Laws such because the EU’s MiCA contributed considerably, he provides.
However, Kral warns, “with such hype comes the necessity for warning. Nobody is aware of whether or not the worth will go up or down.”
James Harris, the newly appointed Group CEO of Tesseract, additionally notes that whereas “it was nice to see Bitcoin decisively shatter its all-time highs” in USD phrases, “they fall quick versus EUR, GBP, or Gold (XAU).”
That stated, the continued momentum has “BTC edging nearer to these benchmarks as properly,” Harris says.
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