Bitcoin’s market capitalization grew by $ 55 billion in just 30 minutes

Bitcoin BTC $86,465.16 Mezo Wrapped BTC 0.39% Market capitalization $38.38 million VOL. 24 hours $1.77 billion added about $ 55 billion to its market capitalization in half an hour, jumping sharply to over $ 90,000. According to Finbold, on December 17, a sharp increase in buying activity caused one of the most powerful short-term market movements in recent weeks. Within about 30 minutes, BTC rose from around $ 87,000 to an intraday high of just over $ 90,000, after which it stabilized around $ 89,950.

According to CoinMarketCap, the market capitalization of bitcoin during this jump increased from around $ 1.745 trillion to $ 1.8 trillion, equivalent to an inflow of around $ 55 billion in market value. Trading volumes also increased significantly, ranging from $ 34.6 billion to $ 37.5 billion per day. This jump came after a period of consolidation, when the asset’s price moved in a sideways range before aggressive demand appeared on the market.

The surge above the psychologically important level of $ 90,000 was accompanied by short-term profit-taking, but bitcoin retained most of the increase in value. This indicates that buyers are willing to absorb sales even at higher price levels. At the peak of the movement, the fully diluted capitalization of BTC approached $ 1.88 trillion, while the volume of coins in circulation remained stable at just under 20 million BTC.

Analysts warn that such sharp short-term jumps usually do not indicate a gradual return of retail investors, but rather concentrated purchases by large market participants. The source of this demand remains unknown, but the speed of the price movement indicates a coordinated entry of large amounts of capital within a short period of time.

Despite a slight correction after the breakout, bitcoin has maintained most of its gains, which may signal a resumption of the uptrend amid stable institutional demand and expectations of further expansion of ETF products in the cryptoasset market.