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Bitcoin (BTC) Market Cap Hits ATH Over $1.3 Trillion

source-logo  u.today 04 March 2024 18:17, UTC

Bitcoin (BTC), the largest cryptocurrency, registered yet another price spike today, on March 4, 2024. Besides setting new price records against several world fiat currencies, it excited the audience with its market capitalization all-time high.

Bitcoin (BTC) prints ATH, but it is not the one you're waiting for

Bitcoin (BTC) total market capitalization exceeded the $1.3 trillion level for the second time in its history today, on March 4, 2023. Bitcoin's (BTC) market cap peaked at $1,301,751,806,228 today at about 3:00 a.m. (UTC).

Bitcoin’s market cap is higher right now than it has ever been in history.

Soon the price of an individual coin will be at all-time high prices too.

— Pomp 🌪 (@APompliano) March 4, 2024

However, the Bitcoin (BTC) price all-time high is yet to be revisited. In November 2021, Bitcoin (BTC) managed to accomplish the $1.3 trillion capitalization with a lower number of coins released into the circulating supply.

As of today, 19,644,487 Bitcoins (BTC) are available on the market, CoinGecko's data says.

Trading volume in Bitcoin (BTC) pairs rocketed over $52 billion in fiat equivalent. Also, it managed to set a fresh all-time high in a pair with the euro (EUR).

As covered by U.Today previously, analyst Chris Burniske predicted that a new price ATH would be registered for both Bitcoin (BTC) and Ethereum (ETH) in Q1, 2024.

$100 million liquidated in BTC shorts and longs

As of press time, Bitcoin (BTC) is changing hands at $66,147. In the last 24 hours, the BTC price added over 6.2%.

This upsurge erased almost $100 million in Bitcoin (BTC) short and long positions, CoinGlass data says. In the last 24 hours, Bitcoin (BTC) bears lost $72 million in shorts.

In total, crypto makers logged over $291 million worth of liquidations on March 4, with 100,267 traders being liquidated.