20 July 2026
BTC Jumps 10 Percent and Regains $1 Trillion Market Cap
Bitcoin, the world popular Cryptocurrency, has finally regained the market capitalization of $1 trillion after the price of BTC spiked nearly 10%. Bitcoin is presently trading near $55,000, which is termed as the highest level since May 2021.
According to Coinmarketcap, Bitcoin currently has a market cap of more than $1.03 trillion. Besides, it is now more valuable than the entire market capitalization of Facebook. It is indicated that the latest surge in Bitcoin came after some positive comments from Gary Gensler, Chairman at the US Securities and Exchange Commission (SEC).
In a new discussion with the House Committee on Financial Services, Gensler concluded that the US will not follow China’s lead in banning Bitcoin and other Cryptocurrencies. Moreover, Bitcoin’s retail and institutional interest have jumped significantly in the last few days.
Further, Daniela Hathorn, the analyst at DailyFX, emphasized that “after a consistently strong performance for the last week, Bitcoin has managed to place itself above the $50,000 mark for the first time in a month. I have to say, looking at the daily chart, the rise looks healthier this time as momentum has built steadily from the $40,000 area without facing rejection before crossing $50,000, as it has done many times before.”
Altogether the market dominance of the world’s largest Cryptocurrency, Bitcoin, has increased sharply in the last few days. BTC now accounts for 45.3% of the total market cap of digital assets, which is at its highest level in nearly eight weeks.
However, the market dominance of Ethereum has dropped during the same period.
Adding further, Santiment, the Crypto analytics platform, mentioned that “Bitcoin dominance has been on a major rise the past couple of days, and $54.6k has been breached for the first time since May 12th. Our NVT Token Circulation model is indicating October is the first month we’re seeing a bullish divergence since February.”
Apart from this, the total market cap of cryptocurrencies is now trading near $2.3 trillion. BTC, ETH, BNB, ADA, and USDT remain the world’s top 5 digital currencies.
Disclaimer: The author’s views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.
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