Crypto market cap hits $3.8T all-time high, may soon surpass UK’s GDP
2025-07-14 16:47:11
Main Idea
The global crypto market capitalization reached a record high of $3.8 trillion, nearing the UK's GDP, driven by Bitcoin's surge to $123,000, with technical indicators signaling a bullish trend.
Key Points
1. The global crypto market cap hit $3.8 trillion, close to surpassing the UK's GDP, making it the seventh-largest if it were a country.
2. Bitcoin's price rally to $123,000 pushed its market cap above $2.4 trillion, surpassing Canada's GDP and nearing Italy's.
3. Bitcoin's market cap also exceeded major companies like Amazon, Silver, and Google, becoming the fifth-largest asset globally.
4. Technical analysis indicates a 'buy' signal for the crypto market, with a potential target of $4.45 trillion based on an inverse head-and-shoulders pattern.
5. The Supertrend indicator's previous confirmations were followed by significant rallies, suggesting continued bullish momentum.
Description
If the crypto market were a country, it would be the seventh-biggest in GDP terms behind the United States, China, Germany, Japan, India and the United Kingdom.
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