Bitcoin Nears $100K; BTC Stocks Hit $70B Volume

Bitcoin (BTC) is closest to the $100K mark, after topping a new all-time high (ATH) of $99,199.81. It is currently quoted at $99,046, up 1.376% in the past 24 hours. As a result of this surge, Bitcoin related stock, the Bitcoin Industrial Complex, sured a trading volume of $70 billion today. 

The current market sentiment for Bitcoin is in sync with our Bitcoin Price Prediction trends, and it might even reach a maximum value of $99,917, by the end of the year 2024.

Bitcoin current market trend

The market cap for BTC has jumped by 1.19%, now standing at a staggering $1.96 trillion, at the time of writing. The 24-hour market volume has also increased by 13.85%, settling at $97.68 billion.

Courtesy: Coinmarketcap

With a market cap growing at this pace, Bitcoin is just a few figures away from overtaking Alphabet (Google), which has a market cap of $2.06 trillion, and claiming the title of the sixth most valuable asset globally.

In response to this development, the probability of BTC reaching $100K in November has already reached 94%, according to market prediction platform, Polymarket.

Courtesy: Polymarket

Another bettors’ poll on Polymarket says the probability of BTC reaching $105k stands at 55%. Meanwhile, 87% bettors on Kalshi feel that Bitcoin ATH will reach the $100k mark well before December.

Top gainers

Speaking of top gainers, according to the latest MicroStrategy holdings report, the company currently holds approximately 331,200 BTC, now valued at an impressive $32.8 billion (approx.). The Royal Government of Bhutan holds 12.218K BTC, valued at nearly $1.21 billion. Meanwhile, the El Salvador government holds 5.942K BTC, with a current value of approximately $588.05 million.

Bitcoin’s success isn’t limited to crypto enthusiasts; even traditional investors are feeling the impact. Yesterday, the net inflow into US Bitcoin spot ETFs reached $1 billion. Notably, BlackRock’s BIT saw net inflows of $608.41 million, while Fidelity’s FBTC recorded $301.95 million. Additionally, Nate Geraci, President of The ETF Store, noted on social media that US Bitcoin spot ETFs have seen cumulative net inflows exceeding $30 billion since their launch.

See more
Ritu Lavania
Written by Ritu Lavania

Ritu Lavania is a versatile Web3 content creator with over three years of experience in the crypto space. She is part of the team at CryptoNewsZ, where she writes insightful and engaging content. She has also contributed to TheCryptoTimes and The Coin Edition, where her work has been well received by the crypto community. Skilled in research, creative writing, SEO, and cross-functional collaboration, she creates content tailored to diverse audiences. ionate about education, she dedicates time to teaching kids and expressing herself through poetry. Always eager to learn, she continuously explores new trends in blockchain and digital assets. She believes in the power of storytelling to make complex crypto topics more accessible and engaging for readers worldwide.