Bitcoin Flips Meta in Market Cap Ranking, Reaches $78K Valuation

Bitcoin's market capitalization has surpassed that of Meta Platforms, pushing it to the 13th spot among the world's largest assets by market cap. This milestone comes as Bitcoin has reached a valuation of approximately $1.53 trillion, with its price currently trading at $78,932.34, up 9.50% in the last 24 hours and 21.20% over the past seven days.

The surge in Bitcoin's market cap is attributed to several catalysts, including the U.S. Treasury's plans to double long-dated bond buybacks, which has eased yields and injected fresh liquidity into risk assets. Additionally, Bitcoin ETF inflows have played a significant role, with spot ETFs recording hundreds of millions in daily inflows over the past week.

The White House has also expressed support for the CLARITY Act, which has boosted Bitcoin's price forecast. Meanwhile, Ethereum has surpassed Dell Technologies to rank around 69th globally, with a market cap near $287 billion.