Bitcoin (BTC) has hit an all-time high against the Euro as the latest BTC price breakout accelerates.
On October 29, BTC/EUR hit an all-time high of €67,987 on Binance, according to data from Cointelegraph Markets Pro and TradingView.
Euro, Australian dollar among new Bitcoin all-time highs
Bitcoin has almost re-entered the US dollar price discovery with a quick march past final resistance this week.
However, in Europe, the biggest cryptocurrency enjoyed early records due to changes in the dollar’s strength. After nearly eight months of consolidation, BTC/EUR broke the limit set in March.
“The Eurozone’s 350 million citizens have experienced an all-time high for Bitcoin,” long-time analyst Tuur Demeester wrote in part of his reaction to X.
BTC/EUR 1-day chart. Source: TradingView
The Euro is just one of a number of major global currencies that are currently hitting record lows in terms of BTC. Other currencies include the Australian dollar and Canadian dollar, along with familiar names such as the Turkish lira.
BTC/TRY 1-day chart. Source: TradingView
The Eurozone’s history with Bitcoin has become synonymous with hostility due to repeated recent criticism from the European Central Bank (ECB).
As Cointelegraph reported, the latest report drew scorn and even ridicule from the cryptocurrency community, who considered the results illegitimate.
“This new document is a veritable declaration of war,” Demeester said earlier this month as part of an X thread dedicated to the report. The ECB alleges that early Bitcoin adopters steal economic value from latecomers,” he warned.
“I firmly believe that the authorities will use these absurd claims to enact harsh taxes or bans.”
BTC price is “well below” new gold record
Meanwhile, Bitcoin itself faces other obstacles on the path to universal price discovery.
relevant: ‘Most Bullish’ Weekly Close — 5 Things to Know About Bitcoin This Week
Aside from chasing a new dollar all-time high, the largest cryptocurrency is yet to secure a clear breakout against gold.
Veteran trader Peter Brandt uploaded a BTC vs.
“This is the most important part of the fight against Bitcoin’s fiat depreciation,” he said.
“$BTC remains below its March 2024 high and below its 2021 double high. “Bitcoin has made no progress for 42 months.”
BTC/USD vs gold chart. Source: Peter Brandt/X
Gold itself hit a new all-time high of $2,789.85 an ounce on October 29, part of an ongoing risk asset resurgence that gathered steam in the fourth quarter.
XAU/USD 1 month chart. Source: TradingView
This article does not contain investment advice or recommendations. All investment and trading activities involve risk and readers should conduct their own research when making any decisions.