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BTC Hits $1.86 Trillion, Breaks $94K Amid Tech Rally and Easing Trade TensionsBitcoin (BTC) has officially become the fifth-largest asset in the world by market capitalization, surpassing Google (GOOG) after climbing to a market cap of $1.86 trillion. The milestone comes as Bitcoin breaks above $94,000, driven by a combination of macro optimism, strong technical momentum, and a broader rally in tech assets.This is Bitcoin’s highest-ever position in global asset rankings, overtaking one of the world’s most valuable tech giants despite previously reaching a higher market cap above $2 trillion in late 2024. At that time, valuations for large-cap tech stocks were significantly more elevated than they are today, making the current ranking even more significant.Bitcoin Outpaces Tech as Tariff Relief Fuels RallyBitcoin’s breakout past $94,000 reflects renewed market confidence following easing tensions in the U.S.–China trade standoff. On April 22, U.S. President Donald Trump signaled that import tariffs on Chinese goods would “come down substantially,” prompting a broad risk-on rally across global markets.Nasdaq futures rose 2% on the news, but Bitcoin outperformed, not only breaking resistance but also establishing new highs relative to the Nasdaq index, a key benchmark for high-growth tech assets.Technical Breakout Confirms Macro RepricingFrom a technical standpoint, Bitcoin has now cleared multiple key resistance levels, confirming its breakout across both absolute and relative metrics. Market analysts note that BTC’s strong performance against the Nasdaq signals a broader repricing of Bitcoin as a macro asset, rather than just a risk-on technology trade.“Bitcoin is not just keeping up with tech — it’s breaking out against it,” noted a market strategist on X. “This shift in market cap rankings shows a redefinition of what top-tier global assets look like.”Bitcoin's Market Cap Rankings — April 23, 2025As of today, Bitcoin ranks #5 among global assets, ahead of Google and closing in on the next tier:Gold – $14.4 trillionApple – $2.85 trillionMicrosoft – $2.75 trillionSaudi Aramco – $2.07 trillionBitcoin – $1.86 trillionGoogle (Alphabet) – $1.84 trillionBitcoin as a Macro BenchmarkAnalysts suggest that Bitcoin’s ascension in the global asset rankings reflects its growing role as a hedge, not just against inflation, but against geopolitical and monetary instability. With renewed institutional interest and ETF inflows accelerating, Bitcoin is increasingly viewed as a macroeconomic benchmark, not just a crypto asset.“Bitcoin's rise past Google marks more than a symbolic moment,” said a strategist at 10x Research. “It highlights a shift in how capital allocators are thinking about long-term stores of value.”