As Bitcoin (BTC) price pushed above $55,300 in the morning time trading session, its market cap surpassed $one trillion for the first fourth dimension on Feb. 19. The breakout continued throughout the 24-hour interval and within the past hour BTC price hit some other all-time loftier at $56,368.

At present that Bitcoin has cemented its condition equally a trillion-dollar asset among the likes of Amazon, Apple and Google, legacy banks are showing increasing interest in offering cryptocurrency custody services for their customers.

BTC/USDT 4-60 minutes nautical chart. Source: TradingView

According to Treyce Dahlem, an analyst at TheTIE, social media conversations including 'Bitcoin' every bit a keyword accept increased by 38% since Feb. 18. More 102,000 tweets have been sent out in the past 24-hours, and this is only "30,000 tweets shy of setting a new record high."

Dahlem said:

"The number of Twitter users talking virtually Bitcoin on a daily ground has reached a new all-time loftier of 38,500, up 325% from a year ago.

Altcoins rise as DeFi and CeFi brainstorm to merge

Daily cryptocurrency marketplace functioning. Source: Coin360

Multiple altcoins joined BTC and Ether (ETH) in establishing new all-time highs as both centralized and decentralized substitution tokens experienced stiff breakouts.

Binance Coin (BNB) continued to benefit from the growing influence of the Binance Smart Concatenation (BSC) every bit surging volume lifted the token to a new high of $348.72.

This parabolic rally secured BNB's spot as the third-ranked project by market capitalization behind Bitcoin and Ether.

DeFi-related projects like PancakeSwap (Cake) and Venus (VXS) are two of the pinnacle attractions on the BSC and both hit new highs at $20.62 and $101.50 respectively. REN likewise fabricated waves after its recent integration with BSC helped lift the token to a record high at $1.69.

Traditional markets close the week mixed

Following a calendar week of new highs for the major indices, traditional markets closed the week mixed on Fri as the U.S. economy faces continued fallout from the pandemic and rising unemployment.

The NASDAQ finished the day upward 0.07% while the Dow was flat. The S&P 500 declined past 0.19%.

Bullish momentum may extend through the weekend

As traditional markets shut up for the calendar week, the bullish momentum propelling Bitcoin and altcoins high is showing no signs of slowing down. Recent historical information shows that Bitcoin'south rallies in 2021 accept a tendency to occur on the weeked and many analysts believe the top-ranked digital asset could attack the $threescore,000 level over the weekend.

The round the clock nature of the crypto sector means that markets are always active somewhere on the planet. As the current bull market place attracts wider attention from retail and institutional investors, the tendency of trading volume decreasing on weekends seems to no longer be in effect.

While Ether (ETH) toll has remained pinned below $2,000, it still managed to rally to a new all-time high at $1,974.

In that location are increasing bullish murmurs that institutional investors are deeply interested in the returns beingness offered through staking on Eth2 too as participating in the growing DeFi sector, both of which are the driving force backside the growing demand for Ether.

Full cryptocurrency market capitalization. Source: CoinMarketCap

Recent price breakouts from acme tokens similar Bitcoin and Binance Coin and DeFi superstars like REN and Block have too helped lift the total market capitalization of the cryptocurrency sector to a new record $1.705 trillion. Bitcoin'due south authority currently stands at 61.1%