Bitcoin rise to the 8th largest currency by market cap, surpassing the Taiwan Dollar as of May 22, 2025,
By surpassing the Taiwan Dollar in terms of market value and rising to the eighth-largest currency in the world, Bitcoin has accomplished an incredible milestone. On May 22, 2025, at around 10:30 AM UTC, Crypto Rover tweeted that Bitcoin’s market capitalization has surpassed the Taiwan Dollar and that the Hong Kong Dollar was the next goal, highlighting this noteworthy event. According to CoinMarketCap data,
Bitcoin’s market capitalization was around $1.4 trillion as of that date, representing an incredible $38 billion in trading volume for a day on major exchanges like Binance and Coinbase. A price rally coincided with this increase in market capitalization, with Bitcoin reaching $71,250 at 9:00 AM UTC on May 22, 2025.
indicating a 4.2% rise in just one day. Growing institutional usage and macroeconomic considerations, such as traditional market inflation concerns, are also driving investors toward decentralized assets. The recent volatility of the stock market, especially in the S&P 500, which fell 1.3% to 5,320 points on May 21, 2025, at 3:00 PM UTC, according to Bloomberg, has also added to Bitcoin’s allure as a hedge against conventional financial uncertainties.
This cross-market dynamic highlights Bitcoin’s increasing significance as a worldwide store of wealth, particularly in light of pressures on fiat currencies to devalue.From a trading standpoint, the rise of Bitcoin to the eighth-largest currency presents many opportunities for investors in the stock and cryptocurrency markets.
It appears that risk-off sentiment in equities is pushing capital into cryptocurrencies, as evidenced by the link between Bitcoin’s price fluctuations and stock indices such as the Nasdaq, which dropped 0.9% to 16,780 points on May 21, 2025, at 2:30 PM UTC, according to Yahoo Finance. The increased trading volume of Bitcoin pairs, including BTC/USDT, on Binance, which as of May 22, 2025, at 11:00 AM UTC, logged $12.5 billion in volume over 24 hours, is indicative of this change
. Furthermore, Glassnode’s on-chain analytics show that the number of Bitcoin wallet addresses with more than one bitcoin has increased by 3% to 1.02 million addresses in the last week.
as of May 22, 2025, indicating robust institutional and retail accumulation. Based on recent market activity, traders may have a long chance on the BTC/USD pair, with critical resistance at $72,000 and support at $69,500. On May 22, 2025, at 1:00 PM UTC, cryptocurrency-related equities such as MicroStrategy (MSTR) saw a 5.7% increase to $1,620 per share, according to Nasdaq data, showing a positive sentiment spillover from the surge in Bitcoin. Opportunities for diversified portfolios that balance exposure to equities and cryptocurrency are highlighted by this cross-market interaction.
When looking at technical indicators, TradingView reports that as of May 22, 2025, at noon UTC, Bitcoin’s Relative Strength Index (RSI) on the daily chart is at 68, indicating overbought conditions but continued positive momentum. With the signal line above the baseline, the Moving Average Convergence Divergence (MACD) displays a bullish crossing, indicating that the uptrend will continue. Strong market involvement is confirmed by volume analysis,
which shows a 24-hour jump to 520,000 BTC moved across exchanges including Kraken and Bitfinex as of 10:00 AM UTC on May 22, 2025, according to CoinGecko statistics. With net inflows of $305 million on May 21, 2025, according to Bloomberg ETF data, the rising inflows into Bitcoin ETFs, as measured by stock-crypto correlation, represent institutional money flow shifting away from traditional equities.
to cryptocurrency assets in the face of stock market volatility. A 15% increase in Grayscale Bitcoin Trust (GBTC) trading volume to 8.2 million shares on May 22, 2025, at 11:30 AM UTC, further supports this institutional move. For hedging tactics, traders must keep an eye on Bitcoin’s correlation with the S&P 500, which is currently 0.45 according to a 30-day rolling average from IntoTheBlock. Bitcoin’s position as a safe haven may get stronger as risk appetite shifts, possibly pushing its market capitalization above the $560 billion Hong Kong dollar figure soon. This significant event not only solidifies Bitcoin’s place in the world of finance but also points to a more general change in the dynamics of the market, where traditional financial systems are influencing and being influenced by crypto assets.
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