Bitcoin has experienced a notable price increase, reaching $67,000 as it approaches the upcoming halving event. The cryptocurrency’s market capitalization has reached a new all-time high of $1.32 trillion, surpassing its previous peak in November 2021. This represents a significant increase of over 135% since the beginning of the year.

The lowest market cap Bitcoin (BTC) has recorded was approximately $297.3 billion in November 2022, based on the current circulating supply of 19,644,550 bitcoins. Market capitalization in the cryptocurrency world is calculated by multiplying the total circulating supply by the current price of a single unit. This method allows for Bitcoin’s market cap to grow faster than its price due to the continuous mining and addition of new coins.

The recent surge in Bitcoin’s value can be attributed to the approval of spot ETFs in the United States, which have attracted substantial inflows. This positive development has contributed to the overall growth and stability of the cryptocurrency market.

As Bitcoin continues to break new records and attract more investors, it remains a key player in the world of cryptocurrencies. Stay updated with the latest news and trends in the crypto space by exploring more articles on Global Crypto News.

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