BTC (Bitcoin) is up 2.08% in the past 24 hours, currently trading at $91,257.58.

According to Gate News Bot on December 8, citing CoinMarketCap market data, as of press time, BTC (Bitcoin) is currently trading at $91,257.58, up 2.08% in the past 24 hours, with a high of $94,060.77 and a low of $83,862.25. The 24-hour trading volume has reached $49.977 billion. The current market capitalization is approximately $1.82 trillion, an increase of $37.152 billion compared to yesterday.

Bitcoin is an innovative payment network and a new type of currency. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; transaction management and bitcoin issuance are carried out collectively by the network. Bitcoin is open-source; its design is public, no one owns or controls Bitcoin, and everyone can participate. Its unique properties allow exciting uses that could not be achieved by any previous payment system.

Recent key news about BTC:

1️⃣ Spot Bitcoin ETF Holdings in the US Continue to Grow As of recently, the total on-chain holdings of US spot Bitcoin ETFs have reached 1,332,000 BTC, accounting for 6.67% of the current BTC supply, with on-chain holdings valued at $135.3 billion. BlackRock’s IBIT holds 775,715.2 bitcoins, exceeding 2% of the total bitcoin supply, with a market value of over $69.452 billion. The continued growth in ETF holdings indicates that institutional demand for bitcoin remains strong.

2️⃣ Large Financial Institutions Accelerate Crypto Business Expansion Bank of America announced that starting January 5, 2026, financial advisors for its Private Bank, Merrill, and Merrill Edge divisions can recommend crypto asset-related ETPs/ETFs to clients, with no account asset threshold. In addition, French financial giant BPCE has launched crypto trading services supporting BTC, ETH, SOL, and USDC, and plans to cover all 12 million retail customers by 2026. The active participation of traditional financial institutions will bring more liquidity and investment demand to bitcoin.

3️⃣ Bitcoin Mining Costs Rise, Mining Firms Face Transformation Pressure Latest data shows that the average cash cost for mining one bitcoin has risen to $74,600, and when including depreciation and equity incentives, the total cost reaches $137,800. With the total network hashrate surpassing 1 ZH/s, competition has intensified significantly, and miners’ profitability has declined sharply. This trend is prompting many publicly listed mining companies to shift capacity toward more profitable businesses such as AI/HPC, and the industry is facing a major transformation.

From a technical perspective, bitcoin prices have been oscillating around $90,000 recently, and there are still certain short-term volatility risks. However, in the long term, continued institutional entry and the proactive involvement of traditional finance may provide more upward momentum for bitcoin.

This message does not constitute investment advice. Please be aware of market volatility risks when investing.