Bitcoin Surpasses Taiwan Dollar, Sets New Market Record

Bitcoin has surpassed the Taiwan Dollar in market capitalization, positioning itself as the eighth-largest currency in the world. At current prices, Bitcoin’s market cap now exceeds $2.18 trillion, surpassing the monetary base of Taiwan and trailing just behind the Hong Kong Dollar.

This development reflects Bitcoin’s expanding role in the global financial system, as it continues to attract attention from institutions and retail investors alike. Analysts now suggest Bitcoin is approaching the Hong Kong Dollar in value, although current data indicates it may have already surpassed it based on market cap.

Bitcoin Now Ranked Among the World’s Top Currencies

Bitcoin’s rise to the eighth spot places it ahead of several fiat currencies by market cap, including the Taiwan Dollar. This movement up the global rankings is drawing attention to its growing relevance beyond the crypto market. While traditional currencies are backed by central banks and governments, Bitcoin continues to grow as a decentralized asset with a capped supply.

Crossing this threshold not only marks a technical achievement but also demonstrates expanding investor confidence. Bitcoin’s fixed supply of 21 million coins stands in contrast to fiat currencies that can be printed at will. This comparison is becoming increasingly relevant as Bitcoin now competes with sovereign monetary systems on a global scale.

The asset’s current position reflects long-term adoption trends, driven by institutional demand, retail participation, and macroeconomic factors such as inflation concerns and capital preservation strategies.

Bitcoin Price Strengthens Amid On-Chain Bullish Signals

Recent on-chain metrics suggest strong bullish sentiment around Bitcoin. According to data, 100% of Bitcoin addresses are currently in profit. This means every wallet holding Bitcoin is showing unrealized gains based on historical purchase prices. While rare, this condition typically occurs during periods of extended bull market momentum.

The chart tracking profit levels also shows past instances when high address profitability aligned with major price rallies. These include bull markets in 2013, 2017, and 2021. Although such levels can sometimes lead to eventual corrections, the current market behavior indicates strong holding patterns among both short-term and long-term investors.

There is little evidence of widespread profit-taking, which further supports the ongoing rally. Many investors appear to be holding their positions rather than exiting, with on-chain activity resembling past market phases that preceded further upward movement.

Liquidity Inflows and Stablecoin Activity Boost Market Confidence

Stablecoins are helping Bitcoin’s market by fueling its growth. Recently, over $915 million in USDC has been sent to exchanges, data from blockchain tools shows. Often, inflows seem to indicate that people are moving funds onto trading exchanges to buy digital assets, including Bitcoin.

Historically, large inflows of USDC onto exchanges have correlated with rising asset prices. These funds represent liquidity that can be deployed quickly, especially when market conditions turn favorable. With no major negative news events and growing investor interest, the current surge in USDC supports a constructive outlook.

Additionally, events in the wider economy are influencing the rise of Bitcoin. High-net-worth individuals and institutional players are investing more because ETF demand is on the rise and some key markets are passing positive regulations. The concern about inflation and the appeal of investment in hard assets are actually pushing the price of Bitcoin higher.

Market Behavior Points to Possible Continued Growth

Despite the strong market performance, there are few signs of excess euphoria. Analysts note that most of the profit-taking during this cycle occurred in two phases, between March and April 2024, and again between December 2024 and January 2025. Current price levels, though elevated, are not yet being met with widespread selling pressure.

On the weekly chart, some technical signals back up a positive outlook for the market. A Golden Cross recently formed in Bitcoin, a sign where a shorter moving average goes higher than a longer moving average. After the recent Death Cross, the current configuration resembles one that came before a major 81% rise in prices.

Bitcoin is now level above two important moving averages and has moved out of a consolidation region. Along with these trends, traders believe the price direction is likely to continue. Strong momentum could cause Bitcoin to achieve new highs, due to strong analytical data and greater liquidity.

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