Bitcoin (BTC) has simply handed a brand new all-time excessive in opposition to the euro because the cryptocurrency’s value reached a brand new multi-year excessive of $65,000.
Bitcoin broke a brand new psychological milestone above 60,000 euros on March 4, reaching such a price in opposition to the euro for the primary time in historical past.
In line with knowledge from TradingView, Bitcoin touched 60,393 euros at 8:30 am UTC, surging about 5% from its intraday low of 57,521 EUR. On the time of writing, Bitcoin is buying and selling at 59,981 euros, up round 56% year-to-date.
Bitcoin posted a number of milestones previous to reaching the 60,000-euro value mark. On Feb. 28, Bitcoin broke the all-time excessive of round 53,000 euros for the primary time, which was set in late September 2021.
Bitcoin has been breaking new highs in opposition to a number of fiat currencies in 2024, together with the Chinese language yuan (CNY), the world’s largest fiat forex by market capitalization.
In line with Balaji Srinivasan, an angel investor and former chief monetary officer of Coinbase, Bitcoin handed all-time highs in additional than 30 international locations as of Feb. 28, together with China, India, Japan, South Korea and Argentina.
As Bitcoin reached $65,000, the cryptocurrency has but to interrupt new highs in opposition to just a few fiat currencies, together with the USA greenback, the Swiss franc, the Brazilian actual and the Mexican peso.
On the time of writing, Bitcoin is buying and selling at $65,000, or roughly 6% down from the all-time excessive of $69,000 set on Coinbase in November 2021.
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In line with River Intelligence advertising head Sam Wouters, the Mexican peso is probably the most bold goal for Bitcoin to smash. In line with knowledge from Xe.com, BTC is buying and selling at 1.1 million pesos on the time of writing, down about 24% from its earlier excessive of roughly 1.4 million pesos set in November 2021.
Bitcoin has been smashing all-time highs in a number of fiat currencies amid the cryptocurrency gaining larger publicity after the launch of spot Bitcoin exchange-traded funds (ETFs) within the U.S. on Jan. 11, 2024. Following the launch, Bitcoin ETF issuers bought no less than 340,000 BTC as of March 1, excluding huge BTC gross sales by the Grayscale Bitcoin Belief ETF.
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