In Venezuela, through Mexico, Vietnam and even Turkmenistan, bitcoin is at its highest.
Bitcoin is 2.7% away from marking a new all-time high in dollars.
Bitcoin (BTC) has set a new all-time high in over 100 different fiat currencies. From the Mexican peso to the Venezuelan bolivar, passing through the euro and the Japanese yen, the pioneer cryptocurrency has surpassed its highest prices recorded against these currencies.
In Mexico, one bitcoin is valued at 1.46 million pesos, while, in Venezuela, the figure rises to 3 million bolivars. In the euro zone, the price of bitcoin reached 67,600 eurosand in the United Arab Emirates, it reached 268,600 dirham for each unit of the digital currency.
Bitcoin, quoted in Turkish lira also saw its maximum with 2.5 million; and in South Korea, bitcoin reached 101 million won. In the United Kingdom, bitcoin stood at 56,700 pounds and, measured in Norwegian krone, at 809,600.
In the Russian currency, bitcoin reached 6.5 million million rubles and in Japan, 11.2 million yen. For its part, returning to America, the digital currency was quoted at 4.4 million Dominican pesos, according to the data offered by TradingView.
Despite these records, bitcoin fails to reach its all-time high in US dollars. At the time of this publication it is trading at USD 71,858. This highlights the global importance of the dollar, as the cryptocurrency market and many investors consider that a new all-time high for BTC is only verified when it is reached in the greenback.
On October 29, bitcoin was only 0.20% away from its all-time high in dollars, a clear indication of its intention to break the ceiling. Today, it maintains a price above $71,000, 2.17% away from a new record.
This increase was fueled by monster inflows into bitcoin exchange-traded funds (ETFs), with more than $870 million flowing into these funds yesterday, the third-highest figure since their launch in January 2024, as reported CryptoNews.
The expectation in the market is palpable. The cryptocurrency community and financial analysts closely watch every movement in the price of bitcoin, especially in relation to the dollar. The reason is simple: even if bitcoin marks highs in multiple currencies, It is the dollar that determines the global perception of its value.
In general, this scenario reflects the hegemony of the dollar in international financewhere its status as a reserve and primary transaction currency makes its interaction with bitcoin a critical indicator.
Thus, while the world celebrates bitcoin’s records in various currencies, everyone has one eye on the dollar, waiting for the moment when BTC declares a new high in the currency that, for now, defines the global market.