#BTC120kVs125kToday
Bitcoin advances to fifth place globally in market cap.5️⃣$BTC 💥💥✨✨
With the new momentum of BTC this Monday, the market capitalization of the currency reached $2.42 trillion. This allows it to displace Amazon from fifth place as the most valuable asset in the world in the Infinite Market Cap ranking. This rise of the digital currency to fifth place had been widely expected for several days.
It is worth mentioning that this rise occurs despite the fact that Amazon's stock performance is not at all poor. In fact, the capitalization of this company maintained an acceptable momentum during the past week in the U.S. stock market.
The next step in this ranking is Apple, whose market capitalization is $3.15 trillion. For Bitcoin to displace this company from fourth place, the rise must continue for a much longer stretch. In that sense, the price of the currency must rise to $165,000 per coin. Although it may seem like a very distant price, it cannot be ruled out that this milestone is achieved before the end of the year.
In the short term, the momentum of BTC wreaks havoc among short position traders in the leveraged derivatives market. Within a span of 12 hours, these traders lose over $500 million in closures, according to Coinglass.
