Bitcoin Smashes $2.18 Trillion Market Cap—Now Bigger Than Most National Economies

Digital gold just got heavier. Bitcoin’s market valuation eclipsed $2.18 trillion today—topping Apple’s peak and outmatching 96% of sovereign GDPs. Wall Street analysts are scrambling to update PowerPoints last revised in 2021.

How we got here: A perfect storm of institutional FOMO, ETF approvals, and that classic crypto volatility turned the OG cryptocurrency into a macro asset. Meanwhile, goldbugs quietly sob into their safety deposit boxes.

The cynical take: Traditional finance will now spend $50 million on blockchain ’innovation labs’ to avoid admitting they missed the boat. Again.

Still, experts advise people to be careful. Bitcoin’s RSI is at 72 and the MACD is in the bullish zone, but these signs suggest that the market may be overbought. A small drop in prices may happen after the rally.

According to Glassnode, the number of wallets containing more than 1 BTC rose by 15% from May 10 to May 18, indicating investors are buying more Bitcoin. The ProShares bitcoin Strategy ETF (BITO) has climbed 5% to reach $28.50.

Stocks in the cryptocurrency industry rose as well. On May 17, Strategy (MSTR) climbed 3.2%, Coinbase (COIN) moved up 2.8% and the S&P 500 rose by 0.5%, indicating a stronger link between traditional stocks and cryptocurrencies.

While the market was rising, Crypto Rover alerted users about a possible “Sunday Scam Pump.” A number of low-cap altcoins jumped by more than 20% to 50% which made traders worry.

Investors should keep an eye on interest rates and the stock market, as they could influence crypto’s future.

Also Read: Bitcoin price will Hit $250K by 2025: Robert Kiyosaki