Bitcoin breaks through a new all-time high against the euro, reaching $65,000, showcasing its global recognition and growing adoption. Despite challenges, Bitcoin maintains its position as a frontrunner in the cryptocurrency market, marking significant milestones in its journey.
Bitcoin has surpassed a significant milestone by reaching a new all-time high against the euro, with the cryptocurrency's price soaring to a multi-year peak of $65,000.
On March 4, Bitcoin broke through a new psychological barrier, surging above 60,000 EUR for the first time in history. Data from TradingView indicates that Bitcoin touched 60,393 EUR at 8:30 am UTC, marking a 5% increase from its intraday low of 57,521 EUR. Presently, Bitcoin is trading at 59,981 EUR, reflecting a year-to-date increase of approximately 56%.
BTC/EUR all-time price chart. Source: TradingView
Prior to reaching the 60,000 EUR mark, Bitcoin achieved several milestones. On February 28, the cryptocurrency surpassed its previous all-time high of around 53,000 EUR, which was set in late September 2021. Bitcoin has been consistently breaking new highs against various fiat currencies in 2024, including the Chinese yuan (CNY), the largest fiat currency by market capitalization.
According to Balaji, an angel investor and former CFO at Coinbase, Bitcoin has surpassed all-time highs in more than 30 countries as of February 28, including China, India, Japan, South Korea, and Argentina. However, despite reaching $65,000, Bitcoin has yet to break new highs against certain fiat currencies such as the U.S. dollar, the Swiss franc, the Brazilian real, and the Mexican peso.
While Bitcoin is currently trading at $65,000, it remains approximately 6% below its all-time high of $69,000 set on Coinbase in November 2021. The Mexican peso presents the most ambitious target for Bitcoin to surpass, with BTC trading at 1.1 million MXN at the time of writing. Bitcoin's recent surge in multiple fiat currencies follows the launch of spot Bitcoin exchange-traded funds (ETFs) in the United States on January 11, 2024, indicating increased exposure and adoption of the cryptocurrency.
Bitcoin's latest achievement of surpassing $65,000 against the euro underscores its growing dominance and adoption in the global financial landscape. Despite facing challenges, Bitcoin continues to break new ground, reaffirming its position as a leading digital asset in the cryptocurrency market.
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