Bitcoin Surpasses Google, Reaches Fifth Spot Among Global Assets as Crypto Breaks Out
Bitcoin (BTC) has now become the fifth-largest asset globally by market capitalization, reaching $1.86 trillion and surpassing Google’s (GOOG) market cap, as it surges above $94,000.
This achievement marks Bitcoin’s highest ranking ever, even though its market cap once exceeded $2 trillion when Bitcoin’s price surpassed $109,000. At that point, however, tech stocks were significantly more valued compared to today’s market conditions.
The recent surge has pushed Bitcoin to cross $94,000, turning positive for the year. This rally has been fueled by renewed investor optimism, largely driven by the de-escalation of U.S.-China tariff tensions. This boost has benefitted both Bitcoin and major tech stocks, with Nasdaq futures climbing by 2%.
On a technical level, Bitcoin has successfully broken through crucial resistance levels, which were highlighted earlier in the week. Furthermore, Bitcoin has achieved a new all-time high relative to the Nasdaq, indicating a breakout not just against tech indices but also across various key asset classes.
