Bitcoin Surpasses $122,000 as Crypto Market Hits $4.13 Trillion

The cryptocurrency market has surged to record levels, with its total market capitalization surpassing $4.13 trillion for the first time. Bitcoin +2.33% and Ethereum +0.92% have led the charge, with BTC trading at $122,008 and ETH reaching $4,300. This marks a pivotal moment for digital assets, signaling renewed investor confidence and expanding institutional participation.

Bitcoin’s rise is being driven by a 4.59% increase over the last 24 hours, with prices briefly surpassing $122,000. Analysts suggest that if the current trend continues, Bitcoin could potentially break its all-time high of $123,218. However, they caution that significant price corrections—triggered by large-scale sell-offs or macroeconomic shifts—could threaten this momentum. Open interest has risen by 7,834 BTC, indicating strong speculative activity ahead of anticipated U.S. inflation data [10]. Some analysts predict that Bitcoin could reach $150,000 by year-end, fueled by a weakening U.S. dollar and expectations of rate cuts.

Ethereum has mirrored Bitcoin’s bullish trajectory, rising over 21% in the past week. Analysts forecast further gains, with some suggesting ETH could overtake BTC in value within a year. The rising transaction volumes on the Ethereum network also point to increased adoption and usage, reinforcing broader market optimism.

Another standout performer is Lido DAO (LDO), which rose by 11% in the last 24 hours. The token is currently attempting to break through the $1.56 resistance level, with a “Golden Cross” forming between its 50-day and 200-day exponential moving averages. Analysts anticipate that if this technical pattern continues, LDO could move closer to $1.82. However, a decline in Bitcoin below $1.34 could reverse LDO’s recent upward momentum, potentially pulling it back to $1.18.

Market dynamics are also being shaped by strategic developments within the sector. The LayerZero Foundation announced a $110 million offer to acquire the Stargate STG +9.28%
bridge protocol and its associated tokens. The move aims to streamline cross-chain transaction dynamics and strengthen the Stargate roadmap, particularly in relation to ZRO token integration.

Meanwhile, Bo Hines, the Executive Director of the White House Crypto Council, has stepped down after just under a year in the role. Hines cited a return to the private sector as his reason for leaving, expressing gratitude for the support from the community since December 2024.

Despite the positive momentum, the market remains volatile. A recent dip below $100,000 in Bitcoin led to over $860 million in liquidations, highlighting the risks associated with high leverage and speculative trading. Analysts urge investors to closely monitor macroeconomic developments, particularly the upcoming U.S. inflation report and any shifts in monetary policy.

The current bullish phase is not limited to Bitcoin. Altcoins like Ethereum and Cardano
ADA +2.41% (ADA) have also experienced gains, with increased user activity following recent airdrops [7]. This widespread momentum suggests a broader shift in investor behavior, as more participants look to capitalize on the evolving digital asset landscape.

As the market continues to develop, the coming weeks will be critical in determining whether Bitcoin can maintain its upward trajectory. Institutional inflows and regulatory developments are expected to play a key role in shaping the next phase of the crypto market