Bitcoin had a poor start to April, falling from US$71,000 in early April to a low of US$64,494 on the 3rd. However, it has begun to rebound in recent days and broke through the US$69,000 mark today. , as of the time of writing, it was trading at US$69,407, an increase of 2.4% in the past 24 hours.
Companiesmarketcap data shows that as Bitcoin rebounds, its market capitalization has reached US$1.368 trillion, surpassing the world's leading banks such as JPMorgan Chase, Bank of America, Industrial and Commercial Bank of China (ICBC), and Wells Fargo. The combined market capitalization of the four largest banks.
The combined market value of these four major banks is US$1.3 trillion, of which JPMorgan Chase has a market value of US$568.72 billion, Bank of America has a market value of US$292.82 billion, Industrial and Commercial Bank of China has a market value of US$244.06 billion, and Wells Fargo has a market value of US$203.21 billion.
In addition, after the price of Ethereum rose to US$3,388, its market value has reached US$407.29 billion. If compared with the market value of banks, it has surpassed Bank of America, the world's second largest bank by market value, and is only behind JPMorgan Chase.
ETFs become a major contributor to Bitcoin’s rise this year
It is worth noting that the Bitcoin Spot ETF was approved for listing in January this year and has become a major contributor to Bitcoin’s continuous rise this year. According to IntoTheBlock data , since the launch of the Bitcoin Spot ETF, whale reserves have held more than 1,000 Bitcoins. 220,000 Bitcoins have been added, worth $14.2 billion, of which 210,000 Bitcoins originated from ETF inflows, indicating strong institutional recognition of Bitcoin.
The next Bitcoin halving is expected to occur in April this year, which is widely expected by the market, which is expected to drive Bitcoin further upwards.
