Bitcoin (BTC) hit record highs in several Asian and South American countries after rising 7% in a day, bringing the cryptocurrency even closer to the peak of the U.S. dollar.
On Sept. 21, the #bitcoin price hit an intraday and 6-week high of ¥71,650 before rising more than 7% in the past 24 hours.
According to CoinGecko, the bitcoin exchange rate has returned 3% from its all-time high of 3.14. 4 in dollar terms to £73,738.
However, this major move has taken bitcoin to a new peak against several other fiat currencies.
According to CoinMarketCap, the #MemeWatch2024 exchange rate hit an all-time high in 21 months at 11.2 million yen in early trading in Japan.
This is the first time the value of the asset has exceeded 1,100 million yen. The local currency has weakened against the US dollar in recent months, losing 10% against the dollar since the beginning of the year.
Bitcoin's price also peaked in Argentina when the value of the asset reached 6,380 million Argentine pesos (ARS) on September 21, slightly above the peak reached in mid-May 3.
Over the past few years, the South American country has been hit by inflation, now at 290%, and devaluation of its currency.
Similarly, in the Philippines, on September 21, 1 bitcoin was worth a record 418 million pesos in a short period of time, surpassing its mid-3 high.
As noted by industry observer Thomas Farer on the x website, other countries where the price of BTC approached its equivalent or peak value in mid-2013 include the UK, Australia, Canada, Chile, Colombia, Colombia, Egypt, Israel, Norway, India, South Korea, Taiwan and Turkey.
A few hours ago, cryptographer Willy Wu noticed that the short positions accumulated in bitcoins in 1 month have just been liquidated.
There is still one more level left for short positions to break the all-time highs," he added.
Meanwhile, Coinglass reports that 79,010 traders have been liquidated in the last 24 hours, bringing the total number of #cryptocurrencies liquidated to £34,500 million. 78.
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