Introducing the US Morning Crypto News Briefing, providing a concise overview of important crypto developments for the coming day. Bitcoin (BTC) is being closely monitored against public companies, precious metals, and ETFs by market capitalization. It is emerging as a strong contender, positioned as a tech stock alternative to mitigate risks associated with equities and US Treasury investments.
Bitcoin Surpasses Google in Market Cap
With a surge in optimism, Bitcoin has surpassed Google and now ranks among the top five assets by market capitalization. As per data from companiesmarketcap.com, which monitors over 10,436 firms, Bitcoin currently holds the fifth position, following GOLD, Apple (AAPL), Microsoft (MSFT), and Nvidia (NVDA), with a market cap of $1.86 trillion.
This growth reflects the increasing recognition of Bitcoin as a hedge against conventional financial systems (TradFi) and US Treasury uncertainties, as noted in recent US Crypto News updates. Analysts suggest that Bitcoin's primary role in a portfolio is to counter risks within the existing financial structure.
In contrast, there has been a decline in the popularity of Gold, despite achieving a recent all-time high (ATH). The surge in Gold prices due to President Trump's tariffs seems to be reversing as investors are increasingly embracing riskier assets.
Key Market Insights
Bitcoin has broken through the $90,000 mark and is trading at $93,500, marking a significant climb. On the other hand, Gold has seen a 6% decrease, indicating a shift towards digital assets amidst growing risk appetite, according to analysts at QCP Capital.
Institutional interest in cryptocurrencies is growing substantially, with many institutions actively engaging in the market. Standard Chartered's Head of Digital Assets Research, Geoff Kendrick, predicts a new ATH for Bitcoin based on this trend.
Kendrick also highlights the correlation between the 10-year US Treasury term premium and Bitcoin price, indicating that as long as Federal Reserve independence concerns persist, Bitcoin will likely continue on an upward trajectory. He maintains his Bitcoin price forecast for the end of 2025 and 2028.
Bitcoin's role as a dynamic hedge suggests a potential challenge to Nvidia's position in the market. However, Kendrick acknowledges the evolving nature of dominant narratives and the diverse functions Bitcoin fulfills in investment portfolios.
In the Pre-Market Overview, Bitcoin-related equities like MicroStrategy (MSTR), Coinbase Global (COIN), and others are showing positive trends, underlining the growing interest in crypto assets in the financial market.