Bitcoin surpasses $2.1 trillion market cap
At the time of the announcement, Bitcoin traded around $105,000 per coin, with a 24-hour trading volume exceeding $50 billion across top exchanges like Binance and Coinbase.
This milestone has dramatically boosted Bitcoin's dominance in the digital asset space, drawing significant institutional interest and driving liquidity across the broader market.
Also Read: Bitcoin is the digital equivalent of gold
Market participants are urged to monitor liquidity flows and key resistance levels, as the higher market cap introduces elevated volatility and expanded opportunities for both short- and long-term traders.
Live Events
Amidst ongoing inflation concerns and fluctuating stock markets, Bitcoin has increasingly been viewed as a hedge by institutional and retail investors. The S&P 500 closed with a 0.5% gain on May 17, 2025, while crypto-related equities like MicroStrategy (MSTR) and Coinbase Global (COIN) rose 3.2% and 2.8%, respectively, highlighting growing cross-market correlation.
From a technical standpoint, Bitcoin's Relative Strength Index (RSI) stood at 72 on the daily chart as of 1:00 PM UTC, suggesting overbought conditions that may precede a short-term correction.
Meanwhile, the Moving Average Convergence Divergence (MACD) remains bullish, and on-chain data from Glassnode shows a 15% increase in wallets holding more than 1 BTC between May 10 and May 18, signaling strong accumulation.
Bitcoin’s trading volume reflected robust participation. ETF activity has also mirrored the surge, with the ProShares Bitcoin Strategy ETF (BITO) climbing 5% to $28.50 per share.
Also Read:Bitcoin vs USD
Analysts recommend keeping an eye on interest rate expectations and stock market volatility, which could influence further movements in the crypto market.
Despite the bullish conditions, traders are reminded to remain vigilant. A tweet by Crypto Rover on May 18 also warned of a potential 'Sunday Scam Pump', a market manipulation tactic where prices are artificially inflated before a rapid dump.
Low-cap altcoins, in particular, showed signs of such behavior, with some tokens surging 20-50% in a few hours.
(You can now subscribe to our Economic Times WhatsApp channel)
Content Original Link:
" target="_blank">
