BTC (Bitcoin) rose 3.01% in the last 24 hours.

Gate News Bot report, July 3rd, according to CoinMarketCap data, as of the time of writing, BTC (Bitcoin) is currently priced at $108,800, rising by 3.01% in the last 24 hours, with a maximum of $109,800 and a minimum of $105,200. The 24-hour volume reached $55.746 billion. The current market capitalization is approximately $2.16 trillion, an increase of $63.35 billion compared to yesterday.

Bitcoin is an innovative payment network and a new type of currency. Bitcoin operates on a peer-to-peer technology without a central authority or bank; transaction management and the issuance of Bitcoin are collectively handled by the network. Bitcoin is open-source; its design is public, no one owns or controls Bitcoin, and anyone can participate. Through its many unique properties, Bitcoin allows for exciting use cases that are not covered by any previous payment system.

Important recent news about BTC:

1️⃣ Bitcoin's market capitalization surpasses Google's parent company, returning to the sixth position among global assets Bitcoin's market capitalization has reached $2.179 trillion, surpassing Google's parent company Alphabet's $2.164 trillion, reclaiming the sixth position in the global asset market capitalization ranking. This breakthrough highlights Bitcoin's increasingly solid status as a mainstream asset class, with investors' recognition of its long-term value continuing to rise.

2️⃣ Institutional investors accelerate layout, BlackRock's Bitcoin ETF annual fee income exceeds S&P 500 Index ETF The annual management fee income of BlackRock's iShares Bitcoin ETF "IBIT" has surpassed that of its flagship product, the S&P 500 Index ETF "IVV", reaching $186 million. Despite IBIT being established for only 18 months and having a much smaller asset size than IVV, its income performance is outstanding, reflecting the strong demand from institutional investors for Bitcoin investment tools.

3️⃣ Global M2 money supply surpasses $100 trillion, which may drive Bitcoin price rise The global M2 money supply has set a new record of over $100 trillion. Historical experience shows that the growth of the M2 supply usually drives the price of Bitcoin to rise. Investors may turn to Bitcoin as a hedge against inflation risks, avoiding holding fiat currency that could depreciate.

On the technical front, the price of Bitcoin has broken above the 200-day simple moving average, suggesting that bulls may continue to dominate the situation. The Relative Strength Index (RSI) is rising and has crossed the midline of 50, further increasing the likelihood of Bitcoin continuing to pump. The market generally expects Bitcoin to challenge new historical highs, with some analysts setting a short-term target price of $119,000.

This message does not constitute investment advice, and investors should be aware of market volatility risks.