Bitcoin has NOT reached a new all-time high in euros and pounds amid $118k breakout

Bitcoin’s new USD record hides weaker performance in Europe, where forex strength blunted its gains against GBP and EUR.

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

While BTC-USD touched new highs this week, BTC-EUR and BTC-GBP remain below records. Forex strength explains the divergence and what it means for the market.