Although Bitcoin (BTC) is yet to breach its USD all-time high (ATH) value, the flagship cryptocurrency has made a new ATH against the euro (EUR) and some other fiat currencies.<\/p>\n
Bitcoin surpassed<\/a> \u20ac68,000 ($73,561) on October 29, establishing a new ATH against the euro. The largest cryptocurrency by market cap reached this milestone on multiple crypto exchanges, including Binance.<\/p>\n This marks the first time since March 2024 that BTC has set a new ATH against the euro. Although Bitcoin came very close to a new ATH in USD, it fell short by approximately $200, dropping from $73,620 to $71,805 at the time of writing.<\/p>\n Notably, the discrepancy between BTC\u2019s performance against the euro and the USD is due to changes in the dollar\u2019s strength.<\/p>\n On March 14, when BTC last reached its USD ATH of $73,737, the USD\/EUR exchange rate was 0.9113. Currently, the rate is 0.9238, indicating a weakening euro against the dollar.<\/p>\n One key factor behind the dollar\u2019s renewed strength is the US Federal Reserve\u2019s decision to raise interest rates to bring inflation down to its target of 2%.<\/p>\n Bitcoin has also achieved a new ATH against the Canadian Dollar (CAD), recording a price of just over CAD 102,000, or approximately USD 73,225.<\/p>\n As expected, BTC has reached new ATHs against weaker and hyperinflated fiat currencies, including the Turkish Lira, Argentine Pesos, and Russian Ruble.<\/p>\n Bitcoin\u2019s impressive performance comes at a crucial time, with the approaching US presidential elections, the effects<\/a> of BTC halving, and a surge<\/a> in stablecoin demand.\u00a0<\/p>\n While Bitcoin\u2019s new ATH against the EUR is promising, the wider crypto market eagerly awaits a USD-denominated ATH, as most crypto trading on exchanges takes place in USD or USD-pegged stablecoins like USDT and USDC.<\/p>\n Data shows that the BTC\/EUR trading pair generates the most volume on exchanges such as Bitstamp ($39.8 million), Binance ($36.7 million), and WhiteBit ($26.7 million).<\/p>\n However, these volumes are dwarfed by higher-volume trading pairs like BTC\/Korean Won (KRW). BTC\/KRW trading volumes reach<\/a> as high as $400 million daily \u2013 almost ten times more than the most-traded BTC\/EUR pair.<\/p>\n Recent data indicates that, despite flirting with ATH levels, BTC traders are holding off<\/a> on profit-taking around the $71,000 level, suggesting expectations of further price increases based on current momentum.<\/p>\nBTC ATH Against USD Most Awaited<\/h2>\n