Bitcoin continues to rise, soaring to $80,000 during the opening period of the US stock market, setting a new historical high of $89,530 and pushing the cryptocurrency market value over $3.114 trillion, surpassing the high point since April 2021. At the same time, Tether has minted 2 billion USDT, and USDC has added 50 million coins, indicating a significant increase in market capital inflows.
Cryptocurrency market momentum remains strong. Bitcoin surged by $8,000 during the opening of the US stock market, reaching a high of $89,530, approaching the $90,000 mark, and experiencing a daily increase of over 10%.
This has driven the cryptocurrency market cap to a new high. According to CoinGecko data, the total market value of the cryptocurrency market has reached $3.114 trillion, a 6.3% increase in the past 24 hours, surpassing the previous high of $3.069 trillion in November 2021, achieving a new milestone. Among them, Bitcoin’s market value accounts for 60% of the entire market (BTC.D), reaching a high point since April 2021. Currently, the market expects Bitcoin to consolidate at a high level and for the market share of BTC.D to decrease, which may lead to the return of the long-awaited altcoin season.
The good news is that monitoring account Whale Alert has revealed that Tether Treasury minted 2 billion USDT on the Ethereum network around 1:07 am today. Although Tether CEO Paolo Ardoino commented, “Please note that this transaction has been authorized but not yet issued, which means that these funds will be used for future issuance needs and reserves for cross-chain exchanges.” In other words, these 2 billion USDT are not funds immediately flowing into the market but rather inventory prepared in advance. However, the presence of advanced inventory preparation implies that funds flowing into the cryptocurrency market are expected to increase.
Coincidentally, Whale Alert also monitored that USDC Treasury minted over 50 million USDC on the Ethereum network last night, undoubtedly increasing confidence in the continuation of the market’s upward trend.
At the same time, the three major US stock indices have reached new highs with slight gains, with Tesla rising by 8.96% and reaching a total market value of $1.1 trillion, surpassing TSMC and Alphabet, and ranking sixth in the US stock market:
– The Dow Jones Industrial Average rose by 304.14 points or 0.69%, closing at 44,293.13 points.
– The S&P 500 Index rose by 5.81 points or 0.1%, closing at 6,001.35 points.
– The Nasdaq Composite Index rose by 11.99 points or 0.06%, closing at 19,298.76 points.
– The Philadelphia Semiconductor Index fell by 134.13 points or 2.54%, closing at 5,156.39 points.
Cryptocurrency-related stocks have also experienced significant gains, including:
– Canaan, a manufacturer of ASIC mining machines, rose by 41%.
– MicroStrategy, the dominant holder of Bitcoin, rose by 25%, with its stock price surpassing $340 to reach a new high.
– Coinbase, the largest cryptocurrency exchange in the United States, rose by 19%.
