Recent Trends in Cryptocurrency
OKX real-time data shows that Bitcoin experienced a significant drop on April 7, hitting a low of 55,611.7 USDT, marking two consecutive days of decline on the daily chart. While short-term upward momentum appears weak, Bitcoin's long-term investment appeal continues to grow.
Key highlights:
- Q1 2021 saw a record $4.5 billion inflow into crypto funds, surpassing Q4 2020's $3.9 billion
- Total cryptocurrency market cap crossed $2 trillion on April 6 (up 163% YTD)
- Bitcoin's market cap exceeds $1 trillion, representing half of the total crypto market
- Gold's total market cap stands at $10-11 trillion (Bitcoin now equals 10% of gold's value)
👉 Discover how Bitcoin compares to traditional assets
Altcoin Season Emerges as Market Cap Breaks $2 Trillion
The crypto market has grown 475% in six months, with notable developments:
- Bitcoin's market cap surged from $199.3B (Oct 2020) to $1.08T (April 2021)
- Current market share: Bitcoin (54%), Ethereum (12%), XRP (2%)
- Top 5 cryptocurrencies now account for 73% of total market cap
The Blockchain Center's Altcoin Season Index indicates we're in altcoin season, with 75% of top-50 coins outperforming Bitcoin over 90 days. DeFi and NFT sectors show particularly strong growth:
- DeFi market cap grew 620% to $108B
- NFT market exceeds $27.6B (1.4% of total crypto market cap)
Bitcoin's March Toward Gold and Silver Valuations
Despite concerns about the bull market's sustainability, fundamental drivers remain strong:
- Global monetary policies continue to favor alternative assets
- Institutional adoption creates supply/demand imbalance
- Growing acceptance as payment method (Tesla, Visa, Mastercard)
Gold ETPs saw $20B outflows while crypto ETPs attracted $7B inflows in recent quarters. Bitcoin currently ranks as the world's 8th largest asset by market cap ($1.06T), needing to reach $74,500 per coin to surpass silver's valuation.
👉 Learn about Bitcoin's institutional adoption
FAQ
Q: Is this altcoin season different from previous ones?
A: Yes, this cycle features stronger institutional participation and more developed ecosystems like DeFi/NFTs.
Q: What's driving Bitcoin's price growth?
A: Primarily institutional demand post-halving, plus growing recognition as inflation hedge.
Q: How does crypto's $2T market cap compare to traditional markets?
A: It equals about 2% of global gold market, showing significant room for growth.
Q: Should investors be worried about Bitcoin's dominance dropping?
A: Not necessarily - healthy ecosystems often see capital rotate to altcoins during bull markets.
Q: What's the significance of Bitcoin ETFs?
A: They provide regulated exposure, making Bitcoin accessible to traditional investors.
Q: When might Bitcoin surpass silver's market cap?
A: At current circulating supply, this would occur around the $74,500 price point.