Bitcoin price has been soaring this year, with Bitcoin returning to $69,000 today. Its current market value has exceeded $1.36 trillion, surpassing the combined market value of the top four global banks, which is $1.3 trillion. At the same time, the market value of Ethereum has also surpassed that of Bank of America, which is the second-largest bank in the world by market value.
In April, Bitcoin performed poorly, falling from $71,000 at the beginning of the month to a low of $64,494 on the 3rd. However, in recent days, it has started to rebound and broke through the $69,000 mark today. As of the deadline, it was reported at $69,407, with a 24-hour increase of 2.4%.
According to the data, with the recovery of Bitcoin, its market value has reached $1.368 trillion, surpassing the combined market value of the top four global banks, including JPMorgan Chase, Bank of America, ICBC, and Wells Fargo.
The combined market value of these four banks is $1.3 trillion, with JPMorgan Chase valued at $568.72 billion, Bank of America at $292.82 billion, ICBC at $244.06 billion, and Wells Fargo at $203.21 billion.
In addition, after the price of Ethereum rose to $3,388, its market value has reached $407.29 billion. When compared to the market value of banks, Ethereum has surpassed Bank of America, which is the second-largest bank in the world by market value, and is only behind JPMorgan Chase.
It is worth noting that the Bitcoin spot ETF, which was approved for listing in January this year, has been a major contributor to Bitcoin’s continuous rise. According to IntoTheBlock data, since the launch of the Bitcoin spot ETF, whale reserves holding over 1,000 Bitcoins have increased by 220,000 Bitcoins, worth $14.2 billion. Among them, 210,000 Bitcoins came from inflows into the ETF, indicating strong institutional recognition of Bitcoin.
The next Bitcoin halving is expected to occur in April this year, and the market generally expects it to further drive Bitcoin’s rise.
Related Reports:
– Bitcoin Cash “V-shaped Reversal” Surges 17.6% After Halving, Future BTC Scenario Preemptively Staged?
– Profiting from Volatility! Bitfinex Launches Bitcoin and Ethereum “Perpetual Volatility Contracts”
– Hut 8 CEO: Bitcoin Withdrawal to $30-40,000, “Wave of Small-Scale Mining Mergers” Will Appear