Crypto Market Analysis | 5 December 2024

Crypto Market Analysis

Bitcoin has crossed the $100,000 milestone, driven by the successful debut of US spot ETFs and renewed optimism following pro-crypto Donald Trump’s election as US president. Corporate giants increasing their Bitcoin holdings, inspired by MicroStrategy, further fueled the rally. Now up 130% year-to-date, Bitcoin’s market cap stands near $2 trillion—closing in on the likes of Google and Amazon—while altcoins saw modest pullbacks as capital shifted back into BTC. This marks a pivotal moment, with Bitcoin reaffirming its dominance in a rapidly evolving financial landscape.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered investment/financial advice from CoinSwitch. Any action taken upon the information shall be at the user’s risk.

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