Bitcoin reached a high of $104,000 this morning. According to 8MarketCap's latest data, Bitcoin (BTC) market capitalization has successfully returned to the $2 trillion mark, rising nearly 4% in the past 24 hours. More notably, Bitcoin's market value has officially surpassed global e-commerce giant Amazon, ranking fifth in global asset market capitalization, reflecting the growing influence of digital assets in the global financial system.
Why Did Bitcoin Break Through?
Bitcoin's market value surge and surpassing Amazon was driven by multiple factors. Short-term driving factors include Trump's announcement of a trade agreement with the UK last night and potential easing of US-China trade tensions. Long-term factors include increased institutional investor interest and continued inflow of Bitcoin spot ETF funds.
Bitcoin's recent price increase suggests it seems to have decoupled from traditional tech stocks again, indicating its potential for independent market performance and digital gold narrative.
Mercuryo CEO Petr Kozyakov commented:
Bitcoin has been performing strongly in recent weeks, outperforming other digital tokens and almost unaffected by geopolitical events in Asia and the Middle East that would have previously impacted it.
With gold performing well throughout the year, there is now reason to say that Bitcoin may have proven itself as an economic hedge and long-term store of value.
