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Bitcoin’s (BTC) market cap has surged past $1.7 trillion, overtaking silver.
According to Infinite Market Cap, silver’s market cap is currently $1.711 trillion as of November 12, while Bitcoin is at $1.736 trillion.
In just a few hours, silver has overtaken the Vanguard Total Stock Market ETF, which has a market cap of $1.733 trillion, moving to 9th place.
Silver has dropped to 11th place among the world’s top assets by market capitalization.
Following Donald Trump’s victory in the U.S. presidential election, the crypto market has “revived” — Bitcoin and altcoins are on the rise.
On November 12, BTC reached a new all-time high (ATH), climbing to $89,864.
Altcoins are also gaining alongside Bitcoin. In light of this market performance, the total crypto market cap reached a new record, rising to $2.8 trillion.
The second-highest cryptocurrency market cap was recorded on February 1, 2022, at $2.626 trillion.
On March 1, 2024, the crypto market nearly reached this record again, with a market cap of $2.611 trillion.
Fear and Greed Index Reaches 80
The Bitcoin Fear and Greed Index has climbed above 80 for the first time since late March and April.
According to analyst Koryo, the Fear and Greed Index for Bitcoin may follow a pattern similar to late 2020, which lasted until March 2021. During this period, the index stayed above 80 as BTC prices rose.
After 7 months, the fear and greed index hit 80 today.
Last time it happened was in March-April 2024.
But I think the closest comparison of the fear & greed index would be exactly 4 years ago: The first defi summer.
As you can see, the f&g index remained above 80 most of the… pic.twitter.com/9SD45leS6Z— Crypto Koryo (@CryptoKoryo) November 12, 2024
Currently, with many altcoins up 20% or more in a single day, significant attention is focused on the crypto market. On November 11, Societe General’s Bernstein think tank advised clients to buy as much as possible.
Bernstein ($800 billion AUM) just put out their Monday morning note to clients:
“Welcome to the Crypto bull market. Buy everything you can. Don’t fight this – add crypto exposure asap.”
Stage 3 really is upon us. pic.twitter.com/ZGLoLvtXJD
— Yano ?? (@JasonYanowitz) November 11, 2024
