Bitcoin

The total market value of Bitcoin’s&nbsp;circulating supply crossed $1 trillion after the BTC price surged above $51,000.&nbsp;The current circulating supply of Bitcoin is 19,627,443 BTC, i.e., 93.46% of its total supply, which is hard capped at 21 million.
The impact of rising&nbsp;<a href="https://cointelegraph.com/news/crypto-fear-greed-highest-bitcoin-69k">positive investor sentimen</a>t — fueled by a sustained bull market and spot Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>)&nbsp;exchange-traded fund (ETF) <a href="https://cointelegraph.com/news/spot-bitcoin-etf-approvals-reporting-live">approvals in the United States</a>, among other factor — is being reflected across the other aspects of the ecosystem.
The spike in Bitcoin investments at both individual and institutional levels has aided Bitcoin’s sustained price appreciation recently.
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 Bitcoin market capitalization crossed the $1 trillion mark after BTC price surged $51,000. Source: CoinMarketCap
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Previously, Bitcoin recorded a $1 trillion market cap milestone in November 2021 during a bull run that eventually&nbsp;catapulted BTC to its <a href="https://cointelegraph.com/news/crypto-sentiment-high-point-btc-record-high">momentary all-time high of $69,000</a>. Parallelly, the bull run extended across the crypto ecosystem and, for the first time, recorded a&nbsp;<a href="https://cointelegraph.com/news/crypto-markets-tag-3t-combined-market-cap-for-first-time">combined crypto market capitalization of $3 trillion</a>.
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 Combined market capitalization of the crypto ecosystem as of February 2024. Source: CoinMarketCap
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The upcoming Bitcoin halving is expected to play a key role in further increasing the market price of Bitcoin.&nbsp;According to a Grayscale analysis, Bitcoin ETFs can fundamentally change the <a href="https://cointelegraph.com/news/bitcoin-market-beneficial-price-post-halving-grayscale">cryptocurrency’s demand-supply ratio</a>, counterbalancing the halving’s sell pressure.&nbsp;
Related:&nbsp;<a href="https://cointelegraph.com/news/bitcoin-og-2021-all-time-high-600k-btc-price-2026">Bitcoin OG who called 2021 all-time high sees $600K BTC price by 2026</a>
Grayscale’s analysis highlights that the current mining rate of 6.25 Bitcoin per block amounts to approximately $14 billion annually — considering the price at $43,000. In other words, to maintain current prices, $14 billion worth of buy pressure is required over the same period.
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 “Post-halving, these requirements will decrease by half: with only 3.125 Bitcoin mined per block, that equates to a decrease to $7 billion annually, effectively easing the sell pressure.”
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Bitcoin’s price directly impacts the operational costs of the mining community. The upcoming halving event will cut the mining reward in half to&nbsp;3.125 BTC, which will require BTC to maintain a high market value to make mining a viable business model.
Magazine:&nbsp;<a href="https://cointelegraph.com/magazine/real-life-doge-18-meme-going-to-the-moon/">Real-life Doge at 18: Meme that’s going to the moon</a>

Bitcoin breaches $1 trillion market cap

Cointelegraph

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