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Supported by a new all-time high (ATH) market price above $81,000, the total market capitalization of Bitcoin crossed $1.6 trillion for the first time since its launch in 2009.
On Nov. 11, Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="https://cointelegraph.com/bitcoin-price">BTC</a>) reached a market capitalization of $1.62 trillion amid the ongoing bull market, concurrently bringing up the global crypto market cap to its former glory of $2.71 trillion, <a data-ct-non-breakable="null" href="https://pro.cointelegraph.com/dashboard" rel="null" target="null" text="null" title="https://pro.cointelegraph.com/dashboard">according</a> to data from Cointelegraph Markets Pro and CoinMarketCap.
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 <img alt="New record: Bitcoin surpasses $1.6 trillion market cap" src="https://s3.cointelegraph.com/uploads/2024-11/01931a56-2e3a-78b2-a71b-5282a769a09f" title="">
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 Bitcoin market capitalization hits $1.62 trillion. Source: CoinMarketCap
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The <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/crypto-fear-greed-index-hits-7-month-high-bitcoin-reaches-81000" rel="" target="_self" text="null" title="https://cointelegraph.com/news/crypto-fear-greed-index-hits-7-month-high-bitcoin-reaches-81000">recent price appreciation</a> also ensured that Bitcoin investors over the last 15 years maintained profitable portfolios, <a data-ct-non-breakable="null" href="https://www.blockchain.com/explorer/charts/bitcoin-profitable-days" rel="null" target="null" text="null" title="null">according</a> to Blockchain.com. This finding implies that all unsold Bitcoin investments made in the previous 8,900 days have appreciated in value, as shown below.
<figure>
 <img alt="New record: Bitcoin surpasses $1.6 trillion market cap" src="https://s3.cointelegraph.com/uploads/2024-11/01931a56-72c4-7aa0-a134-1b78c18c7069" title="">
 <figcaption style="text-align: center;">
 The number of days holding Bitcoin has been profitable relative to the current price. Source: Blockchain.com
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Bitcoin’s current circulating supply — the total number of tokens released to the market — stands at 19.8M BTC. If Bitcoin were at its maximum supply of 21 million BTC, the BTC market capitalization would have recorded a fully diluted value (FDV) of $1.7 trillion.
Some factors contributing to Bitcoin’s sustained growth are rising interest from institutional investors, the pro-crypto stance of United States President-elect Donald Trump and overall positive investor sentiment.&nbsp;
Most recently, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-1-trillion-market-cap" rel="null" target="null" text="null" title="null">Bitcoin reached $1 trillion market capitalization in February 2024</a>, when BTC’s price surged above $51,000. Still, the asset struggled to retain the milestone amid the halving event.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/cryptoquant-ceo-expects-pullback-58k-by-end-2024" rel="null" target="null" text="null" title="null">Bitcoin could end year at $58K as futures market ‘overheated’ — CryptoQuant</a>
Bitcoin’s recent price surge above $80,000 has led many traders to say that “this is just the beginning” of the anticipated Bitcoin bull market.&nbsp;
On Nov. 10, Bitcoin analyst Tuur Demeester urged Bitcoin investors to hold on to their investments and avoid short-term rash actions, like selling the holdings.
Glassnode lead analyst James Check, aka “Checkmatey” shared a similar sentiment, saying that “the distance” between the price and the 200 Day Moving Average (DMA) is “still cooled off.” As a result, he expects more room for Bitcoin’s price appreciation.
 Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/tokenization-projects-transforming-farmers-lives-africa/" rel="null" target="null" text="null" title="null">Real life yield farming: How tokenization is transforming lives in Africa</a>

New record: Bitcoin surpasses $1.6 trillion market cap

Cointelegraph

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