Bitcoin Surges Past $120,000, Setting New Record
Bitcoin, the world's leading cryptocurrency, has surged past $120,000, marking a significant milestone in its ongoing rally. This achievement comes amidst technological advancements and growing regulatory clarity, driving potential stock market growth.
Bitcoin's circulating supply currently stands at 19,928,203 BTC, nearing its maximum limit of 21,000,000 BTC. Over the past 24 hours, the cryptocurrency has witnessed a remarkable 4.47% increase, reaching an all-time high of $118,000. This surge is reflective of Bitcoin's historical October upticks, with the cryptocurrency maintaining an average return of 21.89% during this month since 2013.
The global trading volume for Bitcoin has also surged, reaching $71.51 billion. This significant trading activity is accompanied by a 2.88% increase in Bitcoin's price, which currently stands at $120,741.70. With a market cap of $2.41 trillion, Bitcoin's dominance in the cryptocurrency market remains unchallenged.
Looking at the broader market trends, Bitcoin has observed a 12.10% gain over the past 90 days. Ongoing expectations of regulatory clarity are expected to further boost cryptocurrency valuations in the coming months. Meanwhile, other cryptocurrencies like Pacifica on the Solana network have also seen increased trading activity, with its volume peaking at $1.75 billion.
Bitcoin's latest price surge to over $120,000 is a testament to its enduring appeal and resilience. As technological advancements continue to drive the stock market today and regulatory clarity emerges, investors can expect further developments in the cryptocurrency space.
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