Bitcoin recently hit a new peak of $90,000, pushing its market cap to $1.77 trillion, surpassing silver's total value. The overall cryptocurrency market also surged, reaching a capitalization of $3.12 trillion—equal to France's GDP, positioning crypto as the 8th largest "economy" globally.

On November 11, Bitcoin's rise to $89,500 spurred a 7% gain in the crypto market within 24 hours. With Bitcoin's market cap now greater than Spain’s GDP, the total cryptocurrency market is valued higher than Microsoft and approaching tech giants like Nvidia and Apple.

The last time the market hit $3 trillion was in 2021, during Bitcoin’s previous all-time high of $69,000. Markus Thielen, founder of 10x Research, predicts Bitcoin will drive further growth, potentially bringing the crypto market to $4 trillion. He expects Bitcoin to reach $100,000 by year-end, which could push its market cap close to $2 trillion. Thielen also notes that select Solana-based tokens may outperform in this cycle, though many assets from the last cycle may not repeat their past success.

Currently, Bitcoin trades around $89,000, up 11% in the last 24 hours and nearing the $90,000 milestone.