The cryptocurrency market is making headlines as it reaches a staggering $3.1 trillion, nearly matching the GDP of France[43dcd9a7-70db-4a1f-b0ae-981daa162054](https://www.mitrade.com/insights/news/live-news/article-3-464860-20241112?citationMarker=43dcd9a7-70db-4a1f-b0ae-981daa162054 "1")! This incredible surge is primarily driven by Bitcoin, which recently rallied to $89,500, marking an 11% increase in just 24 hours[43dcd9a7-70db-4a1f-b0ae-981daa162054](https://www.tradingview.com/news/cointelegraph:7056ca767094b:0-crypto-market-cap-hits-3-1t-high-could-soon-surpass-france-s-gdp/?citationMarker=43dcd9a7-70db-4a1f-b0ae-981daa162054 "2").
### Key Highlights:
- Market Milestone: The total crypto market cap has soared to a new all-time high, making the crypto market the eighth-largest economy in the world[43dcd9a7-70db-4a1f-b0ae-981daa162054](https://www.tradingview.com/news/cointelegraph:7056ca767094b:0-crypto-market-cap-hits-3-1t-high-could-soon-surpass-france-s-gdp/?citationMarker=43dcd9a7-70db-4a1f-b0ae-981daa162054 "2").
- Bitcoin's Dominance: Bitcoin's market cap alone has surpassed Spain's GDP, reaching over $1.77 trillion[43dcd9a7-70db-4a1f-b0ae-981daa162054](https://www.tradingview.com/news/cointelegraph:7056ca767094b:0-crypto-market-cap-hits-3-1t-high-could-soon-surpass-france-s-gdp/?citationMarker=43dcd9a7-70db-4a1f-b0ae-981daa162054 "2").
- Tech Giants Comparison: The crypto market cap is now larger than tech giant Microsoft and is closing in on Nvidia and Apple[43dcd9a7-70db-4a1f-b0ae-981daa162054](https://www.tradingview.com/news/cointelegraph:7056ca767094b:0-crypto-market-cap-hits-3-1t-high-could-soon-surpass-france-s-gdp/?citationMarker=43dcd9a7-70db-4a1f-b0ae-981daa162054 "2").
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