PARADOXICAL PATHWAYS: FINDING HARMONY IN OPPOSING FORCES

Despite Bitcoin (BTC) hitting a new all-time high of $73.8K on March 14, 2024, the cryptocurrency market cap has not surpassed its peak in 2021. Back then, when BTC was trading at $66.9K, the total market cap reached $2.9 trillion. However, even with BTC's recent high, the current market cap sits at $2.38 trillion as of May 14, 2024. This decline in market cap is notable despite the increased supply of BTC and other coins.

Comparing November 9, 2021, to the recent BTC all time high date of March 14,2024, there's been an increase in the number of BTC from 18.86 million to 19.86 million and ETH from 118.27 million to 120.08 million. BTC and ETH were traded at $66.7K and $4.7K, respectively, on November 9, 2021, and rose to $73.8K and $3.8K on March 14, 2024. During this period, the combined market cap of BTC and ETH rose from $1.81 trillion to $1.90 trillion, marking a 4.89% increase. However, the overall crypto market cap dropped from $2.9 trillion to $2.7 trillion. Analyzing individually, BTC's market cap increased by 15%.

The previous bull run in the crypto market was predominantly driven by BTC. The failure to sustain the upward momentum in BTC could be attributed to a lack of significant inflow of capital into the crypto market.

Financial Disclaimer: This information is not financial advice. Cryptocurrency investments are inherently risky and can lead to loss. It's crucial to conduct thorough research and consult with a financial advisor before making any investment decisions