Bitcoin's market capitalization has surpassed $2 trillion, positioning it as the 11th largest economy globally, largely due to renewed investor interest and political backing, including support from Donald Trump.

Recently, Bitcoin briefly exceeded $100,000, reflecting heightened investor optimism and contributing to a significant surge in the cryptocurrency market.

The S&P 500 index has experienced a remarkable 27% gain in 2024, marking its best performance since 2019, with a price-to-book ratio of 5.3, approaching levels seen during the dot-com bubble.

Michael Hartnett, a strategist at Bank of America, has cautioned that if the S&P 500 approaches 6,666 points, it could indicate a potential market overshoot by early 2025, representing about a 10% increase from current levels.

Despite the rally in both stocks and cryptocurrencies, Hartnett pointed out that Bank of America's bull-and-bear indicator does not reflect excessive optimism among global investors.

Mike Novogratz, CEO of Galaxy Digital, has warned of an impending correction in Bitcoin, emphasizing the high levels of leverage present within the crypto community.

Chris Burniske of Placeholder has advised investors to temper their expectations and refrain from overhyping market targets, recalling the unmet expectations surrounding Bitcoin's previous price highs in 2021.