The post Bitcoin has NOT reached a new all-time high in euros and pounds amid $118k breakout appeared on BitcoinEthereumNews.com.

Bitcoin surged to a new all-time high against the US dollar on July 10, hitting $111,683 on Binance before closing the day even higher at $115,244. The breakout marked another milestone for dollar-based investors in Bitcoin’s 2025 bull cycle. But while the headlines celebrated a fresh record, BTC told a different story when priced in euros or pounds. The BTC-EUR pair ended the day at €95,720, still 1.8% below its March peak. BTC-GBP barely inched up to £82,148, just shy of its previous all-time high set in April. A strong euro and stable pound erased Bitcoin’s nominal gains when translated into foreign currencies. Over the past 30 days, the US Dollar Index (DXY) has fallen 1.5%, while the euro index (EXY) gained 2.6% and the pound index (BXY) ticked up 0.3%. These shifts in currency valuations meant that Bitcoin was priced differently across fiat pairs, making it look like it’s breaking out in one currency and stagnating in another. However, Bitcoin saw a massive 5.7% spike late Thursday into Friday morning, marking a new all-time high of $118,400. Yet, even though the price in dollars is now over $6,000 above its record, in pounds and dollars we are yet to see a new all-time high. Why the USD ATH came first Bitcoin’s USD-denominated rally was partly driven by macro shifts favoring non-dollar currencies. US interest rate expectations have softened, with money markets pricing in two quarter-point cuts by September. Meanwhile, the European Central Bank has shown little inclination to ease further after June’s rate pause. Eurozone PMI data also surprised to the upside, boosting cyclical demand for the euro. These trends weakened the dollar broadly, pushing the DXY to its lowest levels since January. Because Bitcoin is typically quoted in USD, a weakening dollar inflates the BTC-USD rate even when…

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Filed under: News - @ July 11, 2025 8:28 am