James Check

Bitcoin has surpassed Ethereum’s market capitalisation by over $1 trillion and one crypto analyst pointed out it is a new all-time high "for the spread."

Bitcoin’s (BTC) market capitalization has reached $1.35 trillion, now over $1 trillion more than the number two cryptocurrency, Ethereum, amid BTC’s price trading just above $68,000.

The 8.9%% rise in Bitcoin’s market cap — the total value of all virtual issued money — since Oct. 12 has sparked further speculation that Bitcoin has plenty of upward momentum left. 

“Bitcoin now has a $1 Trillion market cap lead over Ethereum, a new ATH for the spread,” Glassnode lead analyst James Check opined in an Oct. 19 X post.

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Bitcoin miners are not “full-scale bear market level capitulating,” according to a crypto analyst.

The rising operational costs and lower rewards are taking its toll on Bitcoin (BTC) miners but it isn’t at catastrophic levels by any means, according to a cryptocurrency analyst.

“We are in a period of hash ribbon inversion, and blocks are coming in about 14 seconds slower than they should do. hat tells you that there is less hash rate online, blocks are being found slightly slower,” Glassnode lead analyst James Check aka “Checkmatey” said in a June 21 X video.

“About 5% of mining hashrate is struggling about the moment,” Check explained, referring to the amount of processing and computing power being given to the network through mining.

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