Today’s Bitcoin Price: Crypto Recovers $104,000, Reaching Its Highest Level Since February
The price of Bitcoin on May 12, today: After regaining the $104,000 threshold, the largest cryptocurrency in the world, Bitcoin, has the highest market capitalization since February 2025. According to experts, President Trump’s declaration of a “total reset” in US-China trade relations following high-level negotiations in Geneva has contributed to Bitcoin’s three-day hold above $100,000.
As of 10:30 a.m. on Monday, May 12, the price of Bitcoin was $104,179.72, and its market capitalization was $2.07 trillion. $46 billion was traded in 24 hours. There were 19.86 million Bitcoins in circulation.
The Bitcoin Price was Rs 88,04,300 in rupees.
According to a note from CoinSwitch Markets Desk, President Trump’s declaration of a “total reset” in U.S.-China trade ties during high-level discussions in Geneva propelled Bitcoin beyond the $104K milestone yesterday and has maintained above $100K for three days in a row. As Bitcoin ETFs saw $1 billion in inflows last week, institutional demand for the cryptocurrency remained strong.
The overall value of the cryptocurrency market increased to $3.49 trillion, the biggest since February. However, a short-term correction or consolidation may be imminent as the Relative Strength Index (RSI) approaches overbought territory. Ethereum increased 8% over the weekend, while BNB hit $672, the highest level since March, according to the report.
The recent rebound in Ethereum and altcoins indicates a clear change in market mood and suggests the beginning of an altcoin season, according to Avinash Shekhar, co-founder and CEO of Pi42. Investor interest is obviously expanding beyond Bitcoin, as evidenced by Ethereum’s weekly increase of about 40%, which was fueled by macro tailwinds and the Pectra upgrade, and DOGE’s leadership among large-cap alts.
Even while Bitcoin continues to rise above $100,000, its waning hegemony is a result of wealth shifting around the cryptocurrency ecosystem. “At Pi42, we see this diversification as a positive market dynamic that highlights the increasing trust in decentralized technologies and their wider applications beyond store-of-value,” he continued.
Ethereum Getting A Boost
Projects connected to the Ethereum ecosystem, such as Ethena, providing synthetic dollar instruments on Ethereum, Gala utilizing its L1, and Arbitrum serving as a crucial Layer-2 solution, have demonstrated remarkable strength, according to Himanshu Maradiya, founder and chairman of CIFDAQ. During this event, Pi Network has garnered notice as well. Ethereum is the common thread.
The price of Pi Coin surpassed $1 during the optimistic trade negotiations between China and the United States. CoinMarketCap reports that at 9:20 am IST, the price of Pi Coin was up 33% to $1.25, with a 280% increase in volume at $1.32 billion.
He went on to say, “The performance of ETH and ETH-based projects signals increased capital rotation into Ethereum’s expanding ecosystem and deepening market confidence.”
Disclaimer and Risk Warning
coinweck does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. The image used in this article is for informational purposes only and is provided to us by a third party. coinweck should not be held responsible for image copyright issues. Contact us if you have any issues or concerns. Readers should do their research before taking any actions related to the company.